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Centrica Share Price Drops Despite New Appointment

Centrica Share Price Drops Despite New Appointment

It was a disappointing start to the week for Centrica Plc (CNA). After shares opened at 302.20p on Monday morning they soon dropped as low as 298.91p. However, they recovered slightly and remained fairly stable throughout most of the day and in the end closed at 300.60p. Despite the disappointing day, the shares are still up 1.59% for the week and 2.45% for the month.

Yesterday brokers were mixed about the company. Credit Suisse reiterated its ‘Neutral’ position and kept its target price at 300p while RBC Capital Markets reiterated its ‘Underperform’ assessment and kept its target price at 310p.

Centrica has just appointed Richard Stephenson to the role of interim strategic communications adviser. Stephenson was formerly director of Corporate Affairs at AXA UK & Ireland. In his new role he will be reporting to the group corporate affairs director Gabe Winn.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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