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☆ Worried about a slowdown? One asset management firm shares a way to hedge — and names 10 global stocks
▼ + stars: | 2023-10-27 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

They define that form of value as "combined yield, a blend of dividend yield, free cashflow yield and net buyback yield." "Combined yield has been the best performing of the long-short European factors that we track, year-to-date," the analysts said. Stock screen AllianceBernstein performed a screen of "High Combined Yield Stocks" in Europe for the final quarter of the year. Equinor is listed on both the Oslo Stock Exchange and Nasdaq, while BP is traded on the London Stock Exchange and Frankfurt Stock Exchange. BP is also traded on the New York Stock Exchange in the form of American depositary shares.

Persons: it's, AllianceBernstein, France's, Norway's, — CNBC's Michael Bloom Organizations: Tesco, BP, Oslo Stock Exchange, Nasdaq, London Stock Exchange, Frankfurt Stock Exchange, New York Stock Exchange, Systems, Deutsche Post Locations: Europe, Belgian, British, Swiss

☆ Rates are rising in Europe. HSBC names the region's 'most and least vulnerable stocks'
▼ + stars: | 2023-09-19 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

CNBC Pro takes a look at the bank's two screens of "the most and least vulnerable" stocks: one for "cash-rich" companies and the other for "high leverage" names. 'Cash-rich' names HSBC named "cash-rich companies relatively immune to rising borrowing rates." HSBC's screens in this category include French luxury goods label Hermes International , with a net debt of 9,222 euros ($9,834.11), British food processing company Associated British Foods (net debt of 1,709.39 euros) and Swiss biotech player Bachem Holding (net debt of 271.15 euros). Names with high debt HSBC also screened for companies with high leverage, meaning high net debt to equity and net debt to EBITDA ratios. Companies with high debt are seen to be vulnerable to further rises in interest rates.

Persons: Snam, — CNBC's Michael Bloom Organizations: British, HSBC, CNBC Pro, Companies, Hermes, British Foods, Bachem, Nokia, Daimler Truck Holding, Imperial Brands, Benz Group Locations: Europe, Swiss, Finnish

☆ Shell to sell home energy business in UK, Germany to Octopus Energy
▼ + stars: | 2023-09-01 | by ( Susanna Twidale | ) www.reuters.com time to read: +2 min

The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsLONDON, Sept 1 (Reuters) - Shell (SHEL.L) said on Friday it would sell its home energy business in the UK and Germany to British energy supplier Octopus Energy Group as part of a deal in which the two companies explore a partnership on EV charging. “This agreement follows the announcement during our Capital Markets Day to divest our home energy retail business in Europe,” said Shell Executive Vice-President Steve Hill. Shell Energy Retail Limited in the UK and Shell Energy Retail GmbH in Germany provide domestic gas, power and broadband services to about two million customers and operate under the Shell Energy brand. Shell and Octopus have also signed a memorandum of understanding to explore a potential international partnership over electric vehicles (EV) charging, including for Shell Recharge subscribers, Shell said.

Persons: Chris Helgren, ”, Steve Hill, Shell, Susanna Twidale, Radhika Anilkumar, Savio D'Souza, Chizu Organizations: Shell, REUTERS, Octopus Energy, EV, Shell Energy Retail Limited, Shell Energy Retail GmbH, Shell Energy, Gas, Shell Energy Retail, Thomson Locations: Vancouver , British Columbia, Canada, Germany, British, Europe, Britain, London, Bengaluru

☆ Morgan Stanley names cash-rich global stocks with 'better downside protection'
▼ + stars: | 2023-08-28 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Morgan Stanley named a raft of European stocks with strong balance sheets, lots of cash or high shareholder returns. High cash flow and shareholder returns The bank also screened for companies with "resilient high free cash flow." "Self-financing companies should be better able to weather any prolonged macroeconomic weakness, deploying capital effectively and seizing opportunities that come along the way," Morgan Stanley said. "Cash-rich companies with high free cash flow yields should also have better downside protection, while providing upside potential if management is able to deploy its cash effectively," the bank said. Those firms also have "positive free cash flow and net income growth expected over the next 2 years," the bank said.

Persons: Morgan Stanley, Burberry, — CNBC's Michael Bloom Organizations: CNBC, JD Sports, Sanofi, Airbus, MTU Aero Engines, SAP, WPP, Publicis Groupe, InterContinental Locations: Europe

☆ 'Once-in-a-lifetime' opportunity: Morgan Stanley's stocks to trade Europe's renewable energy boom
▼ + stars: | 2023-08-08 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Morgan Stanley named several stocks to play Europe's investment in renewable energy — and highlighted a "once-in-a lifetime" opportunity in the electricity sector in particular. Earlier this year, the European Union raised its renewable energy targets in the face of the energy crisis that followed Russia's invasion of Ukraine. The bank estimated the transition to green power sources will cost around 5 trillion euros ($5.5 trillion) between now and 2030. Growth opportunity "The EU and UK renewables targets imply significant growth investment opportunities for renewable developers," the bank said. Though Morgan Stanley is positive on the opportunities for renewable energy companies, it said the EU's targets would be "hard to achieve."

Persons: Morgan Stanley, Morgan, Jens Eisenschmidt, Orsted, Centrica, Michael Bloom, Sam Meredith Organizations: European Union, Grid, EU, Siemens Energy, British Gas Locations: Ukraine

☆ Britain's Centrica hikes dividend as profits at British Gas soar
▼ + stars: | 2023-07-27 | by ( Susanna Twidale | ) www.reuters.com time to read: +1 min

July 27 (Reuters) - Britain's Centrica (CNA.L) proposed a 33% increase in its interim dividend on Thursday after posting a jump in first-half profits, buoyed by higher returns from its British Gas supply business. The British Gas Energy supply division posted adjusted profits of 969 million pounds ($1.25 billion) compared with 98 million the same period last year. Centrica said some 500 million pounds of this related to changes to the regulator's price cap which allowed the company to recoup previously lost costs. The company also announced plans to invest 4 billion pounds by 2028 on security of supply, energy flexibility and renewable power. Overall Centrica's adjusted operating profit for the first six months of 2023 rose to 2.08 billion pounds up from 1.34 billion pounds a year earlier.

Persons: Centrica, Susanna Twidale, Prerna Bedi, Varun, Sharon Singleton Organizations: British Gas, British Gas Energy, Thomson Locations: Britain, London, Bengaluru

☆ Centrica hikes dividend as profits at British Gas soar
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: +2 min

Britain's Centrica announced bumper returns for shareholders on Thursday after its first-half profits surged on an almost ten-fold increase at its British Gas supply business. Centrica has doubled its support package for struggling customers to 100 million pounds ($130 million), it added. The British Gas Energy supply division posted adjusted profits of 969 million pounds versus 98 million a year earlier. The firm said it would invest 4 billion pounds by 2028 on security of supply, energy flexibility and renewable power. Overall, Centrica's adjusted operating profit for the first six months of 2023 rose to 2.08 billion pounds from 1.34 billion pounds a year earlier.

Persons: Britain's Centrica, Chris O'Shea, Centrica, O'Shea Organizations: British Gas, British Gas Energy, EDF's Locations: Ukraine

☆ UK energy company forecasts higher profit from retail business
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: 1 min

LONDON, June 13 (Reuters) - British Gas owner Centrica (CNA.L) expects its retail business to generate significantly higher first-half adjusted operating profit than in previous years, it said on Tuesday, citing reduced debt-related costs. UK energy regulator Ofgem's price cap provides an allowance to account for debt on energy bills that cannot be recovered by suppliers and is ultimately written off. In a statement ahead of its annual general meeting on Tuesday, the company said its performance over the first five months of the year has been strong overall. It expects its full-year group adjusted earnings per share to come near the top end of a predicted range between 16.5 and 24.7 pence per share. Reporting by Nina Chestney in London and Eva Mathews in Bengaluru Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Nina Chestney, Eva Mathews, David Goodman Organizations: British Gas, Thomson Locations: London, Bengaluru

☆ Amazon to expand office supplies business after pandemic sales boost in Europe
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

LONDON, April 20 (Reuters) - Amazon plans to expand its business selling office supplies in Europe and internationally after the pandemic helped boost sales as companies shopped more online and looked for bulk discounts. Amazon Business' gross sales in Europe grew at a compound annual rate of 25% from 2020 to 2022, vice president Alexandre Gagnon said in an interview. In Europe, the business launched first in Germany in 2016, then Britain in the following year, followed by Italy, Spain and France in 2018. "Because businesses buy in larger quantities, the fulfilment economics are more advantageous," Gagnon said, adding that Amazon gives companies discounts for bulk orders. Amazon Business clients in the region include Siemens Gamesa, Centrica, and ABB, the company said.

☆ Energy firms lose UK legal challenge over sale of collapsed rival Bulb
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] A British Gas sign is seen outside its offices in Staines in southern England, July 31, 2014. REUTERS/Toby Melville/File PhotoLONDON, March 31 (Reuters) - Centrica's British Gas, Scottish Power and E.ON on Friday lost a court challenge over the British government’s handling of the sale of collapsed energy firm Bulb. The three other energy suppliers had argued the government had unlawfully committed billions of pounds of taxpayers' money to prop up Bulb, without considering the potential impact on the wider energy market. "It's clear that the case was a desperate attempt by those organisations to defend their waning market positions against a more efficient and customer-focused rival," Octopus Energy said in a statement. The addition of Bulb's customers catapulted Octopus to become the country's third largest domestic energy supplier behind British Gas and E.ON.

☆ Ovo Energy plans takeover of Shell gas and electricity arm
▼ + stars: | 2023-03-29 | by ( ) www.cnbc.com time to read: +1 min

Ovo Energy is planning a takeover of Shell Plc 's UK gas and electricity business, a move that would allow the British retail energy supplier to reclaim the No. Ovo is expected to propose an indicative offer for Shell Energy Retail Ltd's UK operation, the report added, citing sources. Shell Energy Retail has about 1.4 million customers. Retail energy suppliers in Europe have struggled over the past year with soaring wholesale prices forcing governments to shield consumers from rising bills. This would put Ovo ahead of Octopus Energy, currently the UK's second-largest supplier, which has nearly 5 million household customers after its takeover of energy supplier Bulb.

☆ More than 94,000 prepayment meters forcibly installed in Britain in 2022
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 27 (Reuters) - More than 94,000 prepayment meters were installed in homes in Britain using warrants and without customer consent in 2022, the government said on Monday, adding that British Gas, Scottish Power and OVO Energy accounted for 70% of them. Prepayment meters allow customers to pay for gas and electricity on a pay-as-you-go basis. British Gas, Scottish Power and OVO Energy forcibly installed 66,187 prepayment metres under warrant last year, the Department for Business, Energy and Industrial Strategy (BEIS) said. Scottish Power was the worst offender when taking its customer base into account, force-fitting more than 24,300 meters, BEIS said. The company is not currently installing prepayment meters or recovering debt from those customers on new prepayment meters unless requested by the customer, the spokesperson added.

☆ Britain extends household energy support scheme to June
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] The sun sets behind an electricity pylon in Borehamwood, Britain, February 8, 2023. REUTERS/Peter CziborraCompanies Centrica PLC FollowSse Plc FollowLONDON, March 15 (Reuters) - Britain extended its support for household energy bills by three months to the end of June, the government said on Wednesday, keeping a lid on household bills in a move that should help ease the country's cost of living squeeze. Under previous plans, government subsidies had been scheduled to be scaled back from the end of March meaning that bills would have risen to 3,000 pounds. "High energy bills are one of the biggest worries for families, which is why we’re maintaining the Energy Price Guarantee at its current level," Hunt said in a statement. Wholesale prices are expected to fall over the period meaning the help will no longer be necessary beyond after that period, the statement added.

LONDON, March 15 (Reuters) - Finance minister Jeremy Hunt presented less gloomy forecasts for Britain's economy at his Spring Budget on Wednesday. Reuters Graphics Reuters GraphicsROSIER OUTLOOKA rout in global banking stocks on Wednesday overshadowed many UK-specific moves. Investments announced by Hunt such as a corporate spending tax break, a boost for defence and extra childcare support were not viewed as particularly inflationary. Unlike in the last budget, noise around windfall taxes on oil and gas companies was muted in the run-up to the budget since energy prices have fallen dramatically since then. "In general, the budget is not the big story for gilts right now, global drivers are in the driving seat," said James Smith, economist at ING.

☆ UK to extend energy bill help for 3 months - source
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +2 min

Government subsidies are scheduled to be scaled back from next month, meaning average annual bills would rise to 3,000 pounds ($3,600) from 2,500 pounds now. Hunt is due to deliver a budget statement on March 15, when any extension to the level of support could be announced. "The Chancellor has been clear that we will keep all our support under review... we are already doing all we can to support people struggling with high energy bills," a spokesperson for prime minister Rishi Sunak said on Friday. Hunt can count on a roughly 30-billion-pound windfall as he prepares his budget, according to the Institute for Fiscal Studies (IFS). Keeping the current level of energy subsidies would cost 2.7 billion pounds until the end of June, based on current energy price forecasts, the IFS estimated this week.

REUTERS/Toby MelvilleLONDON, Feb 27 (Reuters) - British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but it will offer little relief to consumers as costs continue to rise. The cap sets a maximum price suppliers can charge consumers for each kilowatt hour (kWh) of energy they use, but it has been superseded by a government-backed energy price guarantee (EPG) that limits the maximum costs of energy. "Although wholesale prices have fallen, the price cap has not yet fallen below the planned level of the Energy Price Guarantee. If wholesale prices continue to fall, the price cap could be lowered again in July, potentially reducing bills, the regulator said. British Gas owner Centrica (CNA.L) this month posted record annual profit of 3.3 billion pounds on soaring energy prices and production.

SummarySummary Companies Centrica, StanChart jump on upbeat earningsVodafone up on report exploring options for African UnitFTSE 100 up 0.2%, FTSE 250 flatFeb 16 (Reuters) - Britain's internationally-focussed FTSE 100 on Thursday closed above 8,000 points for the first time as upbeat earnings from Centrica and Standard Chartered countered global risk-off sentiment after hotter-than-expected U.S. inflation data. The blue-chip FTSE 100 (.FTSE) gained 0.2%, off an intra-day record high hit earlier in the day, but still at its highest ever closing level of 8,012.53 points. The exporter-heavy index has had a stellar start to the year, gaining 7.5% so far as positive corporate earnings and rising commodity prices supported the index. Data showed U.S. producer prices rose more than expected in January while jobless claims unexpectedly fell, fanning speculation the U.S. Federal Reserve would keep raising interest rates for longer than expected. Shares of Centrica (CNA.L) jumped to top the FTSE 100, adding 5.7%, after the British Gas owner's annual profit more than tripled and it announced an extension of its share buyback programme.

☆ FTSE 100 at record high on positive Centrica, StanChart earnings
▼ + stars: | 2023-02-16 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 hits record high, trading above 8,000 pointsCentrica, StanChart, Relx jump on upbeat resultsVodafone rises on report of looking at options for Africa unitFTSE 100 up 0.3%, FTSE 250 adds 0.4%Feb 16 (Reuters) - UK's FTSE 100 rose to a record high on Thursday, underpinned by corporate earnings from Centrica and Standard Chartered, while higher commodity prices drove up heavyweight miners. The blue-chip FTSE 100 (.FTSE) gained 0.3%, trading comfortably above the 8,000-point mark it had breached in the previous session. The exporter-heavy FTSE has had a stellar start to the year as positive corporate earnings and rising commodity prices supported the index. Shares of Centrica (CNA.L) jumped to top the FTSE 100, adding 4.2%, after the British gas owner's annual profit more than tripled and as it announced an extension of its share buyback programme. Standard Chartered (STAN.L) rose 1.8% after the lender reported a 28% rise in annual pretax profit and unveiled a $1 billion share buyback programme.

☆ Morning Bid: Growth trumps rates
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +6 min

While there were some questions about seasonal adjustments in the data, economists were impressed that sales growth was pretty broad based and have scrambled to re-crunch first quarter U.S. output forecasts as a result. There may be a more mixed picture from Thursday's data slate on producer prices, housing starts and weekly jobless claims. Even though rates futures and Treasury yields ticked back a bit today, pricing now has Fed policy rates moving as high as 5.25% and staying above 5% all year. And while full-year earnings growth estimates for S&P500 companies have sunk to zero, consensus forecasts are now pencilling in a rebound of almost 12% next year. Uncertainty about the pace of growth and annual tax receipts in April makes it difficult for government officials to predict the exact "X-date", it said.

☆ Centrica to extend share buyback as annual profit triples
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: 1 min

Centrica said on Thursday it was extending its share buyback program by £300 million (£361 million) after its annual profit more than tripled on high energy prices, robust electricity generation and gas production levels. The extension, in addition to the British energy supplier's existing 250-million-pound buyback program, would result in it buying back 10% of its capital, the group said. Centrica, which restored dividends in the first half after asset sales and soaring energy prices helped it deliver strong half-year earnings, declared full-year dividend of 3 pence per share. The British Gas owner's adjusted operating profit for 2022 rose to 3.3 billion pounds from 948 million pounds in the previous year.

☆ UK power firm SSE ups profit outlook on strong market conditions
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

Jan 20 (Reuters) - British power firm SSE Plc (SSE.L) on Friday raised its annual earnings forecast helped by strong market conditions, and said it would invest any additional profit it makes into low-carbon electricity infrastructure. The company said it now expects adjusted earnings per share of more than 150 pence for fiscal year 2023 ending March 31, up from the previous outlook of at least 120 pence. The group's finance director Gregor Alexander said in a trading statement that its 12.5 billion pound ($15.45 billion)net-zero acceleration programme was progressing "at pace". In November, National Grid (NG.L) and British Gas-owner Centrica too had raised their annual earnings expectations as power companies benefit from persistently high energy prices caused by the Russia-Ukraine conflict. ($1 = 0.8090 pounds)Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Commodity-linked stocks push FTSE 100 higher; retailers slide
▼ + stars: | 2023-01-12 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) gained 0.6% to hover near a more than four-year high scaled on Wednesday, while the more domestically focused FTSE 250 mid-cap index (.FTMC) rose 0.9%. Retailers Tesco (TSCO.L) and Marks & Spencer (MKS.L) slipped between 0.3% and 1.6% despite strong sales, as both companies warned of inflationary pressures. Financial stocks were among the top gainers on the FTSE 100, with banks like HSBC (HSBA.L) and Barclays (BARC.L) rising 0.9% and 1.4%, respectively. The FTSE 100 has had a bright start to the year so far, rising in almost every session. Centrica (CNA.L) climbed to the top of FTSE 100, jumping 6.1% after the British Gas owner raised its full-year earnings forecast.

LONDON, Dec 19 (Reuters) - Capricorn Energy's (CNE.L) third-biggest shareholder, Palliser Capital, has called for a general meeting to set a vote on removing seven Capricorn directors from supervisory roles including the CEO, according to documents seen by Reuters. "We have requisitioned the board of Capricorn Energy ... to convene a general meeting (the "EGM") of the Company," Palliser Chief Investment Officer James Smith said in a Dec. 19 letter to Capricorn shareholders. "The EGM will enable shareholders to vote on resolutions to effect the removal of seven current Capricorn directors and the appointment of six independent, highly-qualified replacement candidates." The directors that Palliser wants to remove include Capricorn Chief Executive Officer Simon Thomson and its chief financial officer, also named James Smith, who both hold executive and supervisory roles. The shareholder meeting to vote on Palliser's resolutions has to take place by Jan. 30, Palliser said.

LONDON, Nov 30 (Reuters) - Eni (ENI.MI) is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted. Neptune produces around 130,000 barrels of oil equivalent per day (boed), three-quarters of which is gas. It has operations in Norway - home to Eni's Var unit - Britain, Indonesia - where Neptune shares licences with Eni - Algeria, the Netherlands and elsewhere. A banking source confirmed talks had taken place in recent weeks, but that the outcome was "far from guaranteed" as valuations differed. Eni and Neptune declined to comment.

☆ Super-voters override self-driving truck controls
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Nov 11 (Reuters Breakingviews) - If only it weren’t so easy to see what’s behind the latest mess at TuSimple (TSP.O). The self-driving truck technology developer has descended into corporate governance chaos after the ousted chief executive, Xiaodi Hou, turned around and fired the entire board of directors. The situation was made possible by a dual-class share structure that gives Hou and his co-founder Mo Chen 59% voting control despite their far smaller economic stakes. TuSimple achieved a nearly $8.5 billion market value when it went public in April 2021; it’s now worth about $640 million. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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