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MARKET REPORT: Energy companies could be made to cut prices
1/13/2015
GAS and electricity suppliers Centrica and SSE fell 7¾p to 261p and 92p to 1503p amid concerns that the energy regulator could be given the power to force firms to cut prices. Buy support with a 410p price target from Credit Suisse drove auto parts and aerospace engineer GKN 10¾p higher to 348½p, but oil firm Afren plunged 12p to 27¼p as it said there were no proven or probable reserves at its Barda Rash oilfield in Iraqi Kurdistan. Hikma Pharmaceuticals perked up 97p to 2380p as it prepares to distribute its drug for gout flares following an unsuccessful appeal by Takeda Pharmaceuticals. A big jump in December passenger numbers and lower fuel costs lifted African airline Fastjet 0.2p to 1.1p, while a contract with Transport for London boosted customer services technology firm Eckoh 1¼p to 45½p. Active Energy Group hardened 0.43p to 3.58p after it succeeded in securing two wood chip supply contracts, while a reassuring annual trading update lifted Nationwide Accident Repair Services 10p to 79p.
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1/13/2015
GAS and electricity suppliers Centrica and SSE fell 7¾p to 261p and 92p to 1503p amid concerns that the energy regulator could be given the power to force firms to cut prices. Buy support with a 410p price target from Credit Suisse drove auto parts and aerospace engineer GKN 10¾p higher to 348½p, but oil firm Afren plunged 12p to 27¼p as it said there were no proven or probable reserves at its Barda Rash oilfield in Iraqi Kurdistan. Hikma Pharmaceuticals perked up 97p to 2380p as it prepares to distribute its drug for gout flares following an unsuccessful appeal by Takeda Pharmaceuticals. A big jump in December passenger numbers and lower fuel costs lifted African airline Fastjet 0.2p to 1.1p, while a contract with Transport for London boosted customer services technology firm Eckoh 1¼p to 45½p. Active Energy Group hardened 0.43p to 3.58p after it succeeded in securing two wood chip supply contracts, while a reassuring annual trading update lifted Nationwide Accident Repair Services 10p to 79p.
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