RWE AG (ETR: RWE) falls in price, despite earnings as National Grid plc (LON: NG) aims higher

National Grid plc (LON: NG) rises as RWE AG (ETR: RWE) is omitted

In brief: RWE profit rose 23% in the first half thanks to the new company buying. National Grid plc (LON: NG) has shown excellent results.

RWE AG (ETR: RWE) was 53.97 points, down -0.22 (-0.41%) in early trading. At the same time, National Grid plc (LON: NG) rose to 534.50 points, gaining +1.50 (0.28%) in the first hours of the UK stock market trading.

The second-largest energy concern RWE of Germany has published data on the increase in net profit in the first half of this year by 23% due to higher energy consumption and the purchase last year of Dutch rival Essent. It is reported that the adjusted earnings in the first half rose to 2.75 billion euros ($ 3.54 billion) compared with 2.23 billion euros the previous year. However analysts predicted a profit of 2.55 billion euros.

Anrey Torbinski
2010-08-12 09:38, Economics.

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