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Energy shares hit by Ed Miliband comments | |
(4 months later) | |
(Close): Shares in SSE and Centrica have fallen after Ed Miliband said regulator Ofgem should be given new powers to force firms to cut energy bills. | (Close): Shares in SSE and Centrica have fallen after Ed Miliband said regulator Ofgem should be given new powers to force firms to cut energy bills. |
The Labour leader told the BBC he would demand fast-track legislation on energy in a Commons debate. | The Labour leader told the BBC he would demand fast-track legislation on energy in a Commons debate. |
SSE shares were down 5.8% while Centrica, the company which owns British Gas, fell 2.9%. | SSE shares were down 5.8% while Centrica, the company which owns British Gas, fell 2.9%. |
However, the benchmark FTSE 100 index closed up 0.28 points to 6,501.42. | However, the benchmark FTSE 100 index closed up 0.28 points to 6,501.42. |
Cruise operator Carnival was one of the top risers on the index, climbing 1.6%. following positive broker comment. | Cruise operator Carnival was one of the top risers on the index, climbing 1.6%. following positive broker comment. |
The firm was also helped by the continued fall in oil prices, which is set to cut companies' fuel bills. Brent crude fell 5.6% to $47.27 a barrel, while US crude dropped 4.8% to $46.01. | The firm was also helped by the continued fall in oil prices, which is set to cut companies' fuel bills. Brent crude fell 5.6% to $47.27 a barrel, while US crude dropped 4.8% to $46.01. |
Shares in UK pharmaceutical firm Shire rose at first but then headed lower after it announced it had agreed to buy US biotech firm NPS Pharmaceuticals for $5.2bn. The shares were down 0.8%. | Shares in UK pharmaceutical firm Shire rose at first but then headed lower after it announced it had agreed to buy US biotech firm NPS Pharmaceuticals for $5.2bn. The shares were down 0.8%. |
In the FTSE 250 index, shares in online domestic appliance retailer AO World climbed 6.2% after it reported a strong rise in third quarter sales. | In the FTSE 250 index, shares in online domestic appliance retailer AO World climbed 6.2% after it reported a strong rise in third quarter sales. |
The company said website revenue for the three months to 31 December was up 38% from a year earlier, while total revenue rose 26%. | The company said website revenue for the three months to 31 December was up 38% from a year earlier, while total revenue rose 26%. |
Housebuilder Taylor Wimpey fell 1.2%, despite it giving a positive outlook in its latest trading update. | Housebuilder Taylor Wimpey fell 1.2%, despite it giving a positive outlook in its latest trading update. |
The company said it was "encouraged by the more balanced market conditions, with a lower rate of price growth, which should create a healthy and more sustainable housing market". | The company said it was "encouraged by the more balanced market conditions, with a lower rate of price growth, which should create a healthy and more sustainable housing market". |
On the currency markets, the pound rose against the dollar to $1.5162 but rose 0.23% against the euro to €1.2830. | On the currency markets, the pound rose against the dollar to $1.5162 but rose 0.23% against the euro to €1.2830. |
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