focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAFC Energy Share News (AFC)

Share Price Information for AFC Energy (AFC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 20.40
Bid: 20.15
Ask: 20.50
Change: -0.40 (-1.92%)
Spread: 0.35 (1.737%)
Open: 21.00
High: 21.00
Low: 20.20
Prev. Close: 20.80
AFC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET MIDDAY: FTSE 100 treads water on blue chip earnings

Fri, 28th Jul 2023 11:47

(Alliance News) - Stock prices in London were mixed at midday on Friday, after a busy week of earnings comes to an end.

In the FTSE 100, Standard Chartered, NatWest and IAG were boosted, as investors were pleased with their interim results.

The FTSE 100 index was up 4.58 points, 0.1%, at 7,697.34. The FTSE 250 was down 130.44 points, 0.7%, at 19,142.93, and the AIM All-Share was down 2.67 points, 0.4%, at 766.62.

The Cboe UK 100 was down marginally at 767.84, the Cboe UK 250 was down 0.8% at 16,804.30, and the Cboe Small Companies was down 0.3% at 13,773.27.

UK house sales fell by 15% in June compared with the same month a year earlier, according to HM Revenue & Customs figures.

An estimated 85,870 transactions took place in June 2023 across the UK, which was 6% higher than in May this year.

Apart from June 2020, when the market was hit by the impacts of the coronavirus pandemic and there were just 63,630 transactions, June 2023 was the slowest June for house sales seen over the past decade.

The report said that part of the month-on-month increase can be explained by a higher number of working days in June than in May.

On the back of the news, FTSE 100 housebuilders were down. Barratt Developments fell 1.0%, with Taylor Wimpey falling 0.7% and Berkeley Group down 0.6% in a negative read across.

Elsewhere in the FTSE 100, Standard Chartered was up 5.6%.

The London-based, Asia-focused bank launched a new USD1 billion share buyback programme.

Pretax profit in the six months that ended June 30 was USD3.32 billion, up 20% from USD2.77 billion a year before. Operating income increased by 11% to USD9.13 billion from USD8.23 billion, and StanChart also benefitted from a reduced credit impairment of USD161 million, down from USD263 million a year before.

NatWest was up 3.0%, after a week which has seen its share knocked.

On Tuesday evening, Alison Rose resigned as chief executive officer after admitting to being the source of an inaccurate news story about the finances of pro-Brexit politician Nigel Farage.

It reported total income of GBP7.73 billion in the six months ended June 30, up 24% from GBP6.22 billion a year earlier.

Operating pretax profit rose to GBP3.59 billion, up 37% from GBP2.62 billion.

It also plans to begin an on-market buyback programme of up to GBP500 million in the second half of 2023. Jefferies said that the buyback announcement "comes as a surprise."

"While indiscretion may have led to her departure the latest results from NatWest suggest former CEO Alison Rose was making a decent fist of her day job," said Russ Mould, investment director at AJ Bell.

IAG, which operates British Airways, Iberia, Aer Lingus, Level and Vueling, was up 4.2%.

The company swung to a pretax profit of EUR1.04 billion in the six months that ended June 30 from a loss of EUR843 million a year before, on EUR13.58 billion in revenue, up 45% from EUR9.35 billion.

Looking ahead, IAG said 80% of third-quarter revenue and 30% of fourth-quarter revenue has been booked.

In the FTSE 250, Vanquis Banking plummeted 30%.

Vanquis reported that in the six months ended June 30 it swung to a pretax loss of GBP14.5 million from a profit of GBP37.3 million a year earlier.

Vanquis said that this reflects primarily the IFRS 9 impact of strong loan book growth, together with unplanned inflation driving higher costs. Meanwhile, impairment charges more than doubled to GBP85.6 million from GBP38.5 million.

AFC Energy jumped 23%.

The provider of hydrogen-powered generator technologies has teamed up with tool and equipment hire services firm Speed Hire. The two companies propose the launch of a joint venture dedicated to the hire of hydrogen powered generator plants.

Shares in Speedy Hire rose 1.1%.

Stocks in New York were called higher. The Dow Jones Industrial Average was called up 0.2%, the S&P 500 index up 0.4%, and the Nasdaq Composite up 0.7%.

In European equities on Friday, the CAC 40 in Paris was down 0.2%, while the DAX 40 in Frankfurt was down 0.1%.

On Thursday, the European Central Bank lifted eurozone interest rates by 25 basis points as expected, and once again insisted it is taking a "data-dependant" approach to future decisions.

The US Federal Reserve on Wednesday hiked interest rates by 25 basis points and left the door open for a possible interest rate hike in September.

There was also some key US data released on Thursday. According to the first estimate from the US Bureau of Economic Analysis, the US economy grew by more than expected in the second quarter of 2023.

Investors will also have a keen eye on the US personal consumption expenditures reading at 1330 BST, which contains the latest core personal consumption expenditures deflator - the Federal Reserve's preferred metric of inflation.

The pound was quoted at USD1.2820 at midday on Friday in London, lower compared to USD1.2865 at the equities close on Thursday. The euro stood at USD1.0975, lower against USD1.0996. Against the yen, the dollar was trading at JPY139.39, down compared to JPY141.07.

Brent oil was quoted at USD83.33 a barrel at midday in London on Friday, down from USD83.59 late Thursday. Gold was quoted at USD1,952.44 an ounce, higher against USD1,944.93.

By Sophie Rose, Alliance News reporter

Comments and questions to

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
17 May 2024 18:55

TRADING UPDATES: PetroTal buys Peru's Block 131 for USD5.0 million

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week Wednesday and not separately reported by Alliance News:

Read more
8 May 2024 14:20

AFC Energy chooses Illuming Power as manufacturing partner

(Sharecast News) - Hydrogen power generation technology specialist AFC Energy announced the selection of North American manufacturer Illuming Power as its primary producer of fuel cell plates and stacks for its 'S Series' air-cooled platform.

Read more
25 Apr 2024 15:47

EXECUTIVE CHANGES: Hydrogen Future Industries 25% shareholder made CEO

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and not separately reported by Alliance News:

Read more
18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
Quantum Exponential Group PLCGM re delisting or potential investment in company
Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
Admiral Group PLCAGM
Beazley PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
Comments and questions to
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
26 Mar 2024 20:40

IN BRIEF: AFC Energy revenue falls; loss widens

AFC Energy PLC - Surrey, England-based provider of hydrogen power generation technologies - Revenue from customer contracts falls to GBP227,000 in the year ended October 31, from GBP582,000 a year earlier. Pretax loss widens to GBP19.6 million from GBP19.5 million. Says 2024 is focussed on delivery. Chief Executive Adam Bond says: "We are well placed to build on the foundations set in 2023 and look forward to the successful deliveries of our new H-Power Generators into the hands of customers throughout the remainder of the 2024 calendar year."

Read more
14 Mar 2024 16:53

TRADING UPDATES: FireAngel CFO resigns; ECR Minerals raises GBP585,000

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
11 Mar 2024 13:18

AFC Energy completes factory testing of H-Power generator

(Alliance News) - AFC Energy PLC on Monday celebrated the successful factory acceptance test of its 30 kilowatt generator.

Read more
4 Mar 2024 12:43

AFC Energy generator given the nod for CE mark

(Sharecast News) - Hydrogen power generation technology company AFC Energy announced the reception of its first independent attestation of conformity certificate for a CE mark on Monday, from German certification agency TÜV SÜD for its 30kW H-Power S Series generator.

Read more
26 Jan 2024 12:17

IN BRIEF: AFC Energy-led consortium secures funding from UK Government

AFC Energy PLC - provider of hydrogen power generation technologies - Says it has been awarded funding under the UK Government's Clean Maritime Demonstration Competition, which is funded by the UK Department for Transport and delivered by Innovate UK. A consortium led by AFC has been awarded GBP676,500, in order to design and integrate its proprietary ammonia cracker reactor technology with marine purposed, ammonia fuelled internal combustion engines. Funding starts in the first quarter, with results from the proof-of-concept demonstration expected to be published twelve months later.

Read more
4 Dec 2023 17:33

TRADING UPDATES: 600 Group disposal and funding talks continue

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Read more
17 Nov 2023 11:58

IN BRIEF: AFC Energy buys UK hydrogen assets from Octopus Energy

AFC Energy PLC - Surrey, England-based provider of hydrogen-powered generator technology - Acquires "certain" UK mobile hydrogen storage and distribution assets from Octopus Hydrogen, part of Octopus Energy Ltd, for an undisclosed sum. Says these assets provide immediate logistics capability to supply hydrogen fuel to its growing network of H-Power Generators across the UK, and strengthen its leading position as the dominant UK hydrogen supplier "to support industry's transition to a sustainable off-grid power solution". Acquisition includes two NanoSun Pioneer mobile hydrogen refuelling stations and a hydrogen compressor for refilling. AFC says the assets will support Speedy Hydrogen Solutions, its recently announced joint venture with Speedy Hire. Adds that it does not intend to become a "capital intensive" provider but that early investment in well-priced assets will enable it to derive incremental revenue and support the maturing hydrogen generator market.

Read more
17 Nov 2023 09:42

AFC Energy acquires mobile hydrogen assets from Octopus

(Sharecast News) - AFC Energy announced an agreement to acquire certain mobile hydrogen storage and distribution assets in the UK on Friday from Octopus Hydrogen, part of the Octopus Energy Group.

Read more
15 Nov 2023 12:23

AFC Energy and Speedy Hire launch hydrogen generator joint venture

(Alliance News) - Speedy Hire PLC and AFC Energy PLC on Wednesday announced the launch of joint-venture Speedy Hydrogen Solutions Ltd, dedicated to the hire of hydrogen powered generator plants.

Read more
23 Oct 2023 11:42

AFC Energy achieves new milestone for its ammonia cracking technology

(Alliance News) - AFC Energy PLC on Monday said it achieved a new milestone as its ammonia cracking technology achieved 99.99% hydrogen from single reactor testing.

Read more
23 Oct 2023 07:29

AFC Energy hails successful testing of ammonia cracker tech

(Sharecast News) - Hydrogen power generation technologies group AFC Energy has reached a new milestone with its new ammonia cracking technology, with testing proving its ability to deliver fuel cell grade hydrogen "on a modular, scalable basis".

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.