|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||12.33 - 12.40|
|52 Week Range||8.89 - 12.40|
|Beta (5Y Monthly)||1.01|
|PE Ratio (TTM)||7.31|
|Forward Dividend & Yield||0.48 (3.89%)|
|Ex-Dividend Date||May 14, 2019|
|1y Target Est||11.12|
RWE, Germany's biggest power producer, will cut about 6,000 jobs, or nearly a third of its current workforce, by 2030 as the country moves to phase out brown coal as an energy source, the company said on Thursday. It also accelerates RWE's transformation into a pure renewables group, which - along with its low valuation - could turn it into a takeover target, Goldman Sachs said last week. RWE said it would receive 2.6 billion euros ($2.9 billion) in compensation from the government over 15 years to soften the blow to its business.
Germany will allow operators of coal power stations to keep their existing carbon emissions certificates after the units have been shut down, part of a compromise designed to reduce the cost to generators of a climate change package. Under plans seen by Reuters, the government will reduce by an equivalent amount the number of new certificates issued under a trading scheme that is designed to ensure that emitters of the greenhouse gas carbon dioxide pay for the environmental impact of their activities. The compromise means the government will earn less from the emissions trading scheme.
For 2019 as a whole, E.ON now expects adjusted net income between EUR1.45 billion and EUR1.65 billion, compared with a previous forecast of between EUR1.4 billion and EUR1.6 billion.
British Prime Minister Boris Johnson promised on Sunday "to get Brexit done", with his Conservative Party making an election pledge to bring his deal to leave the European Union back to parliament before Christmas. With Britain heading to the polls on Dec. 12, the governing Conservatives rolled out an election manifesto that promised more public sector spending and no further extensions to the protracted departure from the EU.
British Prime Minister Boris Johnson will promise to bring his Brexit deal back to parliament before Christmas when he launches his manifesto on Sunday, the cornerstone of his pitch to voters to "get Brexit done". Voters face a stark choice at the country's Dec. 12 election: opposition leader Jeremy Corbyn's socialist vision, including widespread nationalisation and free public services, or Johnson's drive to deliver Brexit within months and build a "dynamic market economy". Opinion polls show Johnson's Conservative Party commands a sizeable lead over the Labour Party, although large numbers of undecided voters means the outcome is not certain.
The German government will not force hard coal power plants to close over the next seven years, a draft law expected to be approved by the cabinet next week showed on Tuesday. The plan not to force hard coal plant closures before 2026 risks making Germany's coal exit more expensive as the government would have to give operators generous financial incentives to shut down facilities voluntarily. The new plan is a reversal for the government, which had stipulated in a previous blueprint that utilities would be forced to deactivate hard coal power plants by 2026 if not enough closures happen voluntarily.
Sweden's Vattenfall will seek to monitor and possibly widen expansion targets for offshore wind in Europe which is growing amid rising investor interest, said the company's board member in charge of wind, Gunnar Groebler. Groebler had said in January that the company was aiming to arrive at an installed total 11,000 megawatts (MW) of offshore wind by 2025, up from 3,000 MW installed at the end of 2018. "These targets for offshore wind already need constant monitoring and reviewing," Groebler said in an interview with Reuters.