Drax Share News (DRX)

Watchdog calls on government to review biomass sustainability monitoring

(Sharecast News) - The government cannot prove biomass power plants meet sustainability rules and should review its monitoring arrangements, the National Audit Office said on Wednesday.

IN BRIEF: Drax welcomes government consultation on transition support

Drax Group PLC - Yorkshire, England-based electricity company - Says it welcomes UK government's launch of consultation on a transitional support mechanism for large-scale biomass generators transitioning in 2027 from the end of current renewable schemes, to bioenergy with carbon capture and storage or BECCS. Consultation closes on February 29, and sets out four models including two that are 'Contracts for Difference'-based. Drax believes delivering UK's greenhouse gas removal targets "will require the development of at least one BECCS unit at Drax Power Station by 2030".

Citi downgrades Drax to 'sell'

(Sharecast News) - Citi downgraded Drax to 'sell' on Wednesday as it argued the shares have re-rated "unjustifiably" on the hope of further government support - a view the bank does not share before the general election.

Drax wins permission for carbon capture at UK's largest power plant

(Alliance News) - The UK government has approved Drax Group PLC's development application to install carbon capture technology at Britain's biggest power station, giving a new lease of life to the North Yorkshire site which provides a significant chunk of Britain's electricity.

LONDON BROKER RATINGS: UBS raises GSK and cuts AstraZeneca

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

LONDON BROKER RATINGS: Berenberg cuts target prices for miners

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Wednesday:

European shares end higher as tech, retail lead rebound; energy shares dip

Airbus gains after FAA grounds some Boeing MAX 9 jets

*

LONDON MARKET CLOSE: Stocks mixed as eyes on US inflation data

(Alliance News) - Stock prices in London closed mixed Monday, with oil majors holding down higher gains in the FTSE 100 index.

London close: Stocks manage positive finish after mixed session

(Sharecast News) - London's financial markets experienced a mixed trading day on Monday, with the FTSE 100 and FTSE 250 indices closing in positive territory after spending much of the session in the red.

PRESS: UK to approve Drax power plant carbon capture plan - Telegraph

(Alliance News) - The UK's once "dirtiest" coal-fired power station Drax is set to receive approval for a multibillion-pound net-zero carbon capture plan from the UK government, according to a report from the Telegraph on Monday.

Drax to get approval for net zero carbon capture plan - report

(Sharecast News) - Drax surged on Monday following a report that the UK government is set to approve a multibillion-pound CO2 capture scheme.

LONDON BROKER RATINGS: Berenberg cuts Admiral Group to 'hold' from buy

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Drax calls UK government CCUS update "important step" towards net zero

(Alliance News) - Drax Group PLC on Wednesday praised the UK government's update on the development of carbon capture utilisation and storage clusters.

LONDON BROKER RATINGS: JPMorgan raises Compass and Marston's

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Drax expects 2023 adjusted earnings to jump, in line with consensus

(Alliance News) - Drax Group PLC on Tuesday generator maintained yearly guidance and talked up its bioenergy with carbon capture and storage offering in Yorkshire.