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Search resuls for: "Drax Group"


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Three London stocks are on the march and are expected to rise by more than 50% over the next 12 months. TM17-GB 1Y line More recently, RBC said the company reported "a good set of results" in September. The company reported £80.6 million in total sales, missing revenue expectations of £81.5 million marginally. Wheeler also noted that the stock had "significant upside potential" after the company reported its first-half results on July 26. RBC analyst Charles Weston said the stock remains "materially undervalued" after the company reported its first half-year financial results.
Persons: Debbie Bestwick's, Steve Bell's, Frank Sagnier's, Ross Broadfoot, Broadfoot, Team17, RBC's Alexander Wheeler, Wheeler, Charles Weston, OXB Organizations: CNBC Pro, RBC Capital Markets, RBC, Drax, Oxford Biomedica, Oxford, University of Oxford Locations: London, England, Team17
CNN —The UK government approved a £2 billion (around $2.5 billion) project on Tuesday to create a “carbon negative” wood-burning power plant. Energy secretary Claire Coutinho’s decision greenlights a plan to bolt carbon capture units onto two generators at a power station in Yorkshire, northern England, run by Drax. Once the most polluting power station in western Europe, Drax switched from burning coal to burning biomass — mostly wood pellets — in 2019. The power station in Yorkshire, which produces around 4% of the UK’s power, mostly burns wood imported from North America. Some scientists have cast doubt on the climate credentials of burning biomass.
Persons: Claire Coutinho’s, Drax, , , Tomos Harrison, Ofgem, ” Drax, Laith Whitwham, Ember, BECCS “, ” Will Gardiner, Gardiner Organizations: CNN, Energy, European Academies Science Advisory, Drax Group Locations: Yorkshire, England, Europe, North America, Canada
TipRanks recognized the 10 best analysts in the utilities sector who delivered significant returns and edged past their peers through their recommendations. TipRanks' algorithms calculated the statistical significance of each rating, the average return and the analysts' overall success rate. Top 10 analysts from the utilities sectorThe image below shows the most successful Wall Street analysts from the utilities sector. Based on his buy recommendation, the analyst generated a profit of 161.7% from July 21, 2020 to July 21, 2021. Julien Dumoulin-Smith — Bank of America SecuritiesJulien Dumoulin-Smith has the 10th spot on the list, with a success rate of 57%.
Persons: Patrick T, Fallon, TipRanks, Shelby Tucker, Tucker, Frederic Bastien — Raymond James Frederic Bastien, Black, Benjamin Pham —, Benjamin Pham, Pham, Mark Jarvi —, Mark Jarvi — CIBC Mark Jarvi, Robert Catellier —, Robert Catellier, Alberto Gandolfi — Goldman Sachs, Alberto Gandolfi, Nelson Ng, Jan, Patrick Kenny, Kenny, Neil Kalton, Wells, Julien Dumoulin, Smith — Bank of America Securities Julien Dumoulin, Smith Organizations: Fluence, Siemens, AES Company, AES Alamitos Battery Energy Storage, AFP, Getty, RBC, Energy, Benjamin Pham — BMO Capital BMO Capital, Mark Jarvi — CIBC, Pinnacle, Drax Group, Robert Catellier — CIBC, RBC Capital RBC Capital, Bank In, National Bank, Secure Energy Services, Smith — Bank of America Securities, Sunrun Locations: Long Beach , California, Canadian, Canada, Danish, Methanex
The blue-chip index (.FTSE) fell 0.3%, down for the third straight session, while the mid-cap FTSE 250 (.FTMC) shed 0.4% as of 0829 GMT. The FTSE 100 had a good run earlier this month, buoyed by strength in commodity stocks and defensives like pharmaceuticals. However, markets have taken to a wait-and-see mode as earnings kicked in, to assess the impact of monetary tightening on results. Oil and gas stocks (.FTNMX601010) rose 0.6% as crude prices gained on reports of falling U.S. crude oil and fuel inventories. Drax Group's shares (DRX.L) rose 3.8% after the power generator announced a 150 million pound ($187 mln) share buyback programme.
The FTSE 100 (.FTSE) rose 0.5%, while the FTSE 250 (.FTMC) added 1.1% by 0841 GMT. With a day left for the end of the first quarter of the year, the FTSE 100 is on track for gains of 2%, while the mid-cap index is likely to have a muted end. Top performing sectors this quarter include the FTSE 350 aerospace and defence (.FTNMX502010), construction and materials (.FTNMX501010) and retailers (.FTNMX404010). The FTSE 350 Automobiles and Parts sector (.FTNMX401010) added 2.5% and is among top-performing sectors this quarter. Moonpig Group PLC (MOONM.L) added 17.9% after the online card retailer said it expects revenue to expand across 2024.
Companies Drax Group PLC FollowLONDON, Feb 8 (Reuters) - Power plants operated by British generator Drax (DRX.L) will still be able to operate if strike action by Unite union workers go ahead later this month, the company said on Wednesday. Drax’s power plants can make up around 7% of Britain’s electricity supply. “In the event of industrial action, Drax has robust plans in place to ensure the power station continues to safely generate renewable electricity for millions of homes and businesses,” a spokesperson for Drax said. The company dismissed claims made by the Unite union that the industrial action could lead to power cuts in the country. “The strike action at Drax will inevitably cause considerable strain on the national grid but this dispute is completely of the company’s own making,” Unite regional officer Shane Sweeting said.
Barclays Capital has named six London-listed stocks to buy as it believes the U.K. stock market is currently "cheap" and "under-owned." Two of the investment bank's picks — Drax Group and IG Holdings — are also predicted to rise by more than 50% in the next 12 months, thanks to several policy tailwinds. Drax Group Drax, which runs one of the last remaining biomass and coal-fueled power stations in the U.K., is one of Barclays' preferred stocks. IG Group Shares of stockbroker IG Group could rise by 55% over the next year to £12 a share, Barclays analysts have said. The investment bank believes a high-interest rate environment allows the stockbroker to earn interest on a customer's deposit, further increasing its profit margins.
UK's National Grid cancels standby notice for two coal units
  + stars: | 2022-12-12 | by ( ) www.reuters.com   time to read: 1 min
Dec 12 (Reuters) - Britain's National Grid (NG.L) cancelled standby notices for Drax Group's (DRX.L) two coal units on Monday, according to Elexon's website. Earlier in the day, the grid operator issued start-up notices for two 570 MW coal units at Drax's power station in Yorkshire as a cold snap gripped the country. Elexon is a wholly-owned but operationally independent subsidiary of National Grid Energy System Operator (NGESO). Reporting by Brijesh Patel in Bengaluru; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
Factbox: Energy crisis revives coal demand and production
  + stars: | 2022-10-19 | by ( ) www.reuters.com   time to read: +6 min
France - The Emile Huchet coal power plant restarted in early October, only six months after it closed, according to local media. Netherlands - Dutch energy minister Rob Jetten said in June the Netherlands will remove a production cap at coal-fired energy plants to preserve gas. In June, it said it plans to "increase thermal coal production from existing mines this year maximum by 1.5 million tonnes". Spain - The ministry for the ecological transition requested in May the delay of Endesa's As Pontes coal power station closure. (** Note that Ukraine's government has stopped releasing coal production data since the start of the war).
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