Centrica UK power stations given one-year life extensions, Everplay interim revenues fall
By Iain Gilbert
Date: Tuesday 02 Sep 2025
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open 4.9 points firmer ahead of the bell on Tuesday, after wrapping up the previous session 0.10% higher at 9,196.34.
STOCKS TO WATCH
Centrica said two UK nuclear power stations in which it has a 20% share had been given life extensions of a year. Heysham 1 and Hartlepool are now expected to generate electricity until March 2028, one year later than previously expected. The British Gas owner added that there was no change at the moment to the expected March 2030 closure date of Heysham 2 and Torness, announced last December.
Games developer Everplay Group said on Tuesday that full-year adjusted underlying earnings were expected to be slightly ahead of current market expectations, despite reporting a decline in interim revenues. Revenues fell 10% to £72.4m in the six months ended 30 June, due to the timing of license revenues and new title launches, while adjusted underlying earnings slipped by 1% to £19.2m. However, Everplay said its performance for the FY was, as usual, expected to be second-half weighted.
NEWSPAPER ROUND-UP
Nestlé has dismissed its chief executive, Laurent Freixe, after an investigation into an "undisclosed romantic relationship" with a subordinate that was found to have breached its code of business conduct. The Swiss-headquartered multinational named Philipp Navratil as his replacement. Nestlé said Freixe's departure after 40 years at the company followed an investigation overseen by its chair, Paul Bulcke, and lead independent director, Pablo Isla, with the support of outside counsel, into the relationship with a direct subordinate in breach of company's conduct code. - Guardian
Donald Trump's attempt to influence the US Federal Reserve could pose a "very serious danger" for the world economy, the head of the European Central Bank has warned. Christine Lagarde, the president of the ECB, said Trump undermining the independence of the world's most powerful central bank would have an impact for the US and other countries. - Guardian
Britain's borrowing costs have risen faster than any other G7 country in the wake of Sir Keir Starmer's decision to reshuffle his team of economic advisers. The yield on 30-year UK gilts - the return that investors demand from the Treasury to fund its debt - rose to a 27-year high of 5.64% on Monday. The latest increase came after the Prime Minister appointed Darren Jones, who had been deputy to Rachel Reeves in the Treasury, as his Chief Secretary. - Telegraph
Britain's biggest windfarm operator has received a £700m lifeline from Equinor, the Norwegian oil giant, as it seeks to stave off a crisis prompted by Donald Trump. Equinor said it would invest 6bn Danish kroner (£697m) in Ørsted, the Danish wind giant that recently launched an emergency cash call amid the US president's war on offshore wind. - Telegraph
Thames Water's largest group of creditors is to offer an additional £1bn-plus sweetener in a bid to persuade Ofwat and the government to pursue a rescue deal with them that would head off the nationalisation of Britain's biggest water utility. Sky News has learnt that the senior creditors, which account for roughly £13bn of Thames Water's top-ranking debt, will propose this month that they inject hundreds of millions of pounds of new equity and write off a substantial additional portion of their existing capital. - Sky News
US CLOSE
US markets were closed on Monday in observance of Labor Day.
Reporting by Iain Gilbert at Sharecast.com
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