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Inflation decline offsets Centrica gloom on sagging FTSE
by Chris Marshall on Feb 18, 2014 at 10:39
Stephen Hunt of UBS was glum about Centrica’s prospects, downgrading the shares to ‘sell’ on those same political risks and an ‘unsustainable’ retail strategy.
The biggest hurdle for the company, says Brough, is a review of the energy sector by Ofgem, the Office of Fair Trading and the Competition and Markets Authority. Due to be published next month this could recommend a full market investigation by the Competition Commission which in turn could recommend remedies including ‘behavioural restraints or forced divestments by large companies’.
Shares fell 3.2% to 308p. Only five analysts now rate Centrica as a ‘buy’, 10 say ‘hold’ and 7 ‘sell,’ according to Thomson Reuters data.
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by James Poulter on Mar 11, 2014 at 09:00