UK Energy Retail Market Crisis Threatens Smaller Suppliers

0821 GMT - In the U.K., smaller electricity suppliers that don't have adequate hedging positions now face the most serious financial consequence as they have to be buyers of open market power and gas at prices which well exceed the mandatory price cap, RBC Capital Markets says. "We see heightened risk for smaller, less well-hedged energy suppliers to face bankruptcy in the event of this crisis, but we are mixed on if this presents a positive longer-term opportunity for larger energy suppliers in the U.K., such as Centrica," the bank says. (jaime.llinares@wsj.com)

 
Companies News: 

SourceBio Warns New Covid-19 Testing Plans Will Hurt Growth in 2021

SourceBio International PLC said Monday that the U.K. changes to travel PCR testing for Covid-19 are expected to impact growth in 2021.

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Open Orphan Swung to 1H Pretax Profit

Open Orphan PLC on Monday reported a swing to a pretax profit for the first half of 2021 and said that its full-year earnings will be strong but fall below market expectations.

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Finsbury Food FY 2021 Pretax Profit Rose; Reinstates Dividend

Finsbury Food Group PLC said Monday that pretax profit for fiscal 2021 rose as revenue increased, and that it is reinstating dividends.

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Frenkel Topping's 1H Assets Under Management, Profit Rose

Frenkel Topping Group PLC on Monday reported higher assets under management and an improved profit for the first half of the year.

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MyHealthChecked Says Outlook Positive Despite Lifting of UK Travel Rules

MyHealthChecked PLC said Monday that its directors remain confident monthly testing volumes will continue contributing to revenue growth, noting that revenue for the third quarter exceeded its performance in the last two months of the first half.

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Haydale Graphene to Raise GBP4.5 Mln to Fund Working Capital Needs

Haydale Graphene Industries PLC said Monday that it plans to raise 4.5 million pounds ($6.2 million) via a share placing and subscription and will use the money towards the general working capital needs of the business.

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Ten Lifestyle Group Renews Contract With Barclays Bank UK

Ten Lifestyle Group PLC said Monday that it has secured a multiyear renewal of its contract with Barclays Bank UK PLC to provide its concierge and lifestyle services.

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Lightsource BP Secures $1.8 Bln Credit Facility, Targets 25GW Solar Developments by 2025

BP PLC's Lightsource bp said Monday that it has secured a $1.8 billion credit facility to develop 25 gigawatts of solar power generation capacity by 2025.

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Redde Northgate Says Its Performance Continues to Be Strong

Redde Northgate PLC said on Monday that it has continued to perform strongly across all segments since it announced its preliminary results on July 7, and that it has signed some new multi-year contracts.

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Arecor's Insulin Candidate Achieves Positive Results in Phase 1 Trial

Arecor Therapeutics PLC said Monday that its insulin candidate for diabetes, AT278, met all primary and secondary endpoints with positive headline results from the Phase 1 clinical trial.

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Eurasia Mining Raises GBP11 Mln to Fund Rosgeo JV Projects

Eurasia Mining PLC said Monday that it is raising around 11 million pounds ($15.1 million) via a private placing of shares to fund its joint venture with Rosgeo in Russia.

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Tritax EuroBox Raises Share Placing Target on Higher Demand

Tritax EuroBox PLC said Monday that investor demand for its discounted share placing has significantly exceeded its target, adding that it has risen to around 213 million pounds ($292.6 million) at the same issue price.

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Gore Street Energy Buys New Storage Project; Plans to Raise up to GBP73 Mln

Gore Street Energy Storage Fund PLC said Monday that it is buying a 57-megawatt energy storage project in Leicester, England for an undisclosed sum and that it plans to raise up to 72.6 million pounds ($99.7 million) to fund its portfolio expansion plan.

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IGas Shares Rise on Deal With SSE to Develop Geothermal Plant in England

Shares in IGas Energy PLC rose Monday in early trading after it announced a deal with SSE PLC to develop a geothermal district heating project in Stoke-on-Trent, England.

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Christie Group Shares Rise on Swing to 1H Pretax Profit, Upbeat Outlook

Shares in Christie Group PLC rose on Monday after the company reported a swing to a pretax profit for the first half and said that it expects to beat current full-year market operating profit expectations.

 
Market Talk: 

AstraZeneca Rises on Upbeat Breast Cancer Data

0823 GMT - AstraZeneca shares rise Monday morning after the company shared strong data on its new breast cancer drug Enhertu at a large medical conference over the weekend. The company reported that 75.8% of women treated with Enhertu had no disease progression one year into their treatment. In women treated with the current standard care, Kadcyla, 34.1% had no disease progression after a year. Enhertu targets a type of breast cancer known as HER2 positive and the trial compared it with Kadcyla in women with metastatic disease, meaning the cancer had spread to other parts of the body. Citi analyst Andrew Baum estimates that Enhertu could generate $10 billion a year by 2030. AstraZeneca shares rise 3.2% to GBP83.21 Monday morning. (denise.roland@wsj.com ; @deniseroland)

 

Contact: London NewsPlus, Dow Jones Newswires; Write to paul.larkins@wsj.com

 

(END) Dow Jones Newswires

September 20, 2021 04:40 ET (08:40 GMT)

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