Guangdong Development Fund Share Discussion Threads

[grupo guitarlumber] 09/12/2011 08:49

09/12/2011 - GDF SUEZ to pursue dynamic industrial development at the heart of its strategy


GDF SUEZ is hosting an investor conference today in Paris. The conference consists of presentations by senior executives of the company, providing insight into GDF SUEZ' industrial development and large projects.

GDF SUEZ' strategy is based on :

speeding up development in fast growing countries
strengthening integration and optimizing positions in mature markets
preserving a balanced business profile
developing activities generating secured returns and recurring cash flows.

GDF SUEZ has strict investment criteria in four areas (strategy, finance, legal and environmental, social & governance) aimed at generating value creation. GDF SUEZ aims at offering an attractive shareholder remuneration and maintaining its solid financial structure and strong cash flows.

This development plan will allow GDF SUEZ to reach ambitious operational targets across all businesses :

Power :

to increase installed capacity to 150 GW by 2016 of which 90 GW1 outside Europe
to increase renewable installed capacity by 50% by 2015 (vs 2009)

Gas :

to produce ~ 65 Mboe in E&P by 2014-2015
to double external LNG sales to emerging markets by 2020 (vs 34 TWh in 2010)

Services :

to increase energy efficiency revenues by 40% by 2016-2017 (vs 2010)
to reach 2 million of water smart meters by 2014 (+150%)
to reach a ratio of 2 million tons of waste recovered for 1 million tons eliminated by 2017

[grupo guitarlumber] 09/12/2011 08:06

French Retail Gas Price To Increase 4.3% Jan 1 - Report
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Gdf Suez (EU:GSZ)
Intraday Stock Chart
Today : Friday 9 December 2011
The French government is set to announce an increase in the retail price of natural gas of 4.3% starting Jan. 1, Le Figaro newspaper reports, citing unidentified sources.

The French government is due to announce a natural price gas increase after the country's top administrative court struck down a price freeze imposed by the government in October.

Last week, French Prime Minister Francois Fillon said he hoped the price increase would be below 5%.

The government will change the formula used to set natural gas prices. The new formula will give more weight to spot market prices, Le Figaro reports.

The government plans to issue measures to help France's largest gas distributor, GDF Suez SA (GSZ.FR), which would possibly include bigger increases for natural gas sold to industrial companies, the newspaper reports.

Newspaper Web site:

-By Paris Bureau, Dow Jones Newswires; 33-1-4017 1740; [e-mail]

[waldron] 07/12/2011 22:13

Gazprom Rejects Switch to Spot on 'Predatory' Gas Pricing Threat
December 07, 2011, 10:49 AM EST
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By Anna Shiryaevskaya


Dec. 7 (Bloomberg) -- OAO Gazprom, Russia's gas export monopoly, rejected a move to tie European prices to the spot market and cut the existing link to oil and refined prices, saying it could expose producers to "predatory pricing."

Spot prices, which European customers have asked the Russian gas export monopoly to factor into long-term contract prices, should play a "subordinate, balancing role," said Sergei Komlev, head of pricing and contract formation at Gazprom's export division.

Gazprom supports "the existing dual hybrid pricing model," Komlev said today at a conference in Moscow. Switching to 100 percent spot indexation or de-linking oil and gas prices "is unacceptable to gas producers because it will create opportunities for predatory pricing."

European customers have sought lower gas prices while facing oversupply in Europe and a gap between spot and long-term prices. Gazprom supplied 7 percent of total gas supplies to Europe at prices linked to spot rates last year after revising contracts with customers, including EON AG's Ruhrgas unit, Eni SpA and GDF Suez SA, according to a November bond prospectus.

Gazprom is also holding pricing talks with European importers and has entered arbitration with at least four companies during the past year, according to the prospectus.

Gas importers in Europe buy about two-thirds of their fuel under long-term contracts. Gazprom indexes its prices to oil with a lag of as long as nine months.

--Editors: Torrey Clark, Alex Devine

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[grupo guitarlumber] 06/12/2011 21:08

Total Buys GDF Suez Stake In North Sea Elgin Franklin Fields
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Total S.A (NYSE:TOT)
Intraday Stock Chart
Today : Tuesday 6 December 2011
French oil giant Total SA (TOT) has acquired GDF Suez's (GSZ.FR) stake in the Elgin Franklin hydrocarbon fields, bringing Total's overall participation in the fields to 46.2% from 35.8%, said the group.

Total, which operates the Elgin Franklin fields in the U.K. sector of the North Sea, said the purchase had an enterprise value of EUR590 million.

GDF Suez previously held its stake through jointly-owned company Elgin Franklin Oil & Gas Co. with Total, which held 77.5% of EFOG.

Total will become the sole holder of EFOG, with effect before the end of 2011, said the French oil group.

Elgin Franklin fields produce an average of 140,000 barrels of oil a day, said Total.

-By Nadya Masidlover, Dow Jones Newswires; [phone]; [e-mail]

[ariane] 05/12/2011 13:27

source: the connexion

Gas prices set to rise on January 1
December 05, 2011
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GAS prices are set to go up on January 1 – despite promises by the government that they were to remain frozen until after the presidential elections.

This comes as top administrative body the Conseil d'Etat has ruled that a rise must be applied soon, because the freeze breaks official rules which link rises to increases in costs to the national supplier, GDF Suez.

If these were applied strictly, a rise of 8.8-10% would be on the cards says the Energy Regulation Commission (coming on top of a general rise of 20% since 2009 and 60% since 2005).

However Energy Minster Eric Besson has ruled out a "large" rise. According to Le Journal du Dimanche he is in negotiations with GDF Suez over strategies to keep it low, preferably by the firm agreeing to lower its own margins.

To help the least well-off, the managing director of GDF Suez, Gérard Mestrallet, has proposed that more people should be entitled to the "social" gas tariffs, which allow about 1.5 million households to save an average €130 on their bills per year.

The state is also said to be looking at the possibility of a change to the rules on the way price rises are calculated, these being at present more linked to GDF Suez's supply costs than to general rises in market prices for gas. A change to take more account of the latter could limit the rise to 6%, said Le Figaro.

[waldron] 03/12/2011 07:17

source: TEC


MOUVEMENTS ET NIVEAUX
Le titre est en phase de reprise technique. Il est au-dessus de sa moyenne mobile à 50 jours. Le support est à 17,16 EUR, puis à 15,67 EUR - la résistance est à 21,61 EUR, puis à 23,1 EUR.

[waldron] 30/11/2011 19:21

France Won't 'Sharply' Raise Household Natural-Gas Prices
November 30, 2011, 11:41 AM EST
inShare0Business Exchange E-mail Print More From Businessweek
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French Court Suspends Household Natural Gas Price Freeze
France Will Keep Penly Reactor Plan, Atomic Future, Sarkozy Says
By Tara Patel


(Updates with comments from Direct Energie executive in last paragraph.)

Nov. 30 (Bloomberg) -- The French government won't "sharply" increase regulated natural-gas prices for households, according to Industry Minister Eric Besson.

"There are several scenarios on the table," including that prices rise slightly or moderately, Besson told RTL radio today. "The only scenario that I have pushed aside is a sharp rise in the price of gas."

Prime Minister Francois Fillon will likely decide on new rates by the end of the week, he said.

France's highest court has suspended a government decision to freeze regulated gas prices for consumers and ordered the energy ministry to set new tariffs within a month.

The ruling has thrown into question the way regulated prices are set in France for GDF Suez SA, the former monopoly that is still 36 percent state-owned. The government, facing presidential elections next April and May, is under pressure from consumers not to raise tariffs.

"Between the possibilities of a slight increase or a moderate one, it's up to the prime minister to decide," Besson said, adding that the government will respect the court's decision.

The government in April froze household gas prices for a year, a decision the country's energy regulator ruled should be reversed from Oct. 1 to allow GDF Suez to cover supply costs. The regulator said the rates should have been raised Oct. 1 by 8.8 percent and 10 percent, depending on the type of household consumer. Instead the government kept prices unchanged for households and raised them 4.9 percent for businesses.

Price Cap

Suppliers competing with GDF Suez, grouped under an organization called Anode and including Direct Energie SA and Poweo, have asked the court to lift the price cap because regulated rates weren't high enough to cover costs of supply and hindered competition.

"What counts for us is that we get a clear set of rules on rates. The current system is impossible," Fabien Chone, deputy chief executive officer of power retailer Direct Energie, said in an interview today. "Under the best case scenario we think we will get an increase of 5 percent or 6 percent as a result of this court case."

--Editors: Will Wade, Charles Siler

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[waldron] 30/11/2011 18:04

France Won't 'Sharply' Raise Household Natural-Gas Prices
November 30, 2011, 11:41 AM EST
inShare0Business Exchange E-mail Print More From Businessweek
Group Five Forms Part of $1.1 Billion of Solar, Wind Plant Bids
France's Besson Favors Keeping Household Gas Rates Unchanged
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French Court Suspends Household Natural Gas Price Freeze
France Will Keep Penly Reactor Plan, Atomic Future, Sarkozy Says
By Tara Patel


(Updates with comments from Direct Energie executive in last paragraph.)

Nov. 30 (Bloomberg) -- The French government won't "sharply" increase regulated natural-gas prices for households, according to Industry Minister Eric Besson.

"There are several scenarios on the table," including that prices rise slightly or moderately, Besson told RTL radio today. "The only scenario that I have pushed aside is a sharp rise in the price of gas."

Prime Minister Francois Fillon will likely decide on new rates by the end of the week, he said.

France's highest court has suspended a government decision to freeze regulated gas prices for consumers and ordered the energy ministry to set new tariffs within a month.

The ruling has thrown into question the way regulated prices are set in France for GDF Suez SA, the former monopoly that is still 36 percent state-owned. The government, facing presidential elections next April and May, is under pressure from consumers not to raise tariffs.

"Between the possibilities of a slight increase or a moderate one, it's up to the prime minister to decide," Besson said, adding that the government will respect the court's decision.

The government in April froze household gas prices for a year, a decision the country's energy regulator ruled should be reversed from Oct. 1 to allow GDF Suez to cover supply costs. The regulator said the rates should have been raised Oct. 1 by 8.8 percent and 10 percent, depending on the type of household consumer. Instead the government kept prices unchanged for households and raised them 4.9 percent for businesses.

Price Cap

Suppliers competing with GDF Suez, grouped under an organization called Anode and including Direct Energie SA and Poweo, have asked the court to lift the price cap because regulated rates weren't high enough to cover costs of supply and hindered competition.

"What counts for us is that we get a clear set of rules on rates. The current system is impossible," Fabien Chone, deputy chief executive officer of power retailer Direct Energie, said in an interview today. "Under the best case scenario we think we will get an increase of 5 percent or 6 percent as a result of this court case."

--Editors: Will Wade, Charles Siler

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[waldron] 30/11/2011 09:45

GDF-Suez : ricoche sous les 20E.

(CercleFinance.com) - GDF-Suez ricoche sous les 20E... et même sous les 19,8E (ex-plancher du 1er au 14 novembre).
Le bel élan haussier de lundi (+9% en 48H) retombe alors que la MM20 semble faire obstacle vers 19,7E, bloquant la remontée de GDF-Suez vers les 21,1E (MM100) puis le 'gap' des 21,61E du 28 octobre.
Il n'est pas exclu que le titre vienne symétriquement refermer le 'gap' des 18,17E du 25 novembre.

[waldron] 29/11/2011 17:09

GDF Suez and Intl Power inaugurate two thermal plants in Chile
29 November 2011 | 15:53pm
StockMarketWire.com - GDF Suez and its 70%-owned International Power have inaugurated two 150MW thermal power plants in Chile.

The Andina and Hornitos plants will supply Chile's Norte Grande Interconnected Power System, which mainly supplies power to the Esperanza and Gaby mines located in the north of the country.

Chairman and CEO Gérard Mestrallet said: "Our group is constantly investing in the research and development of new, highly efficient and innovative technologies.

"Combined with our broad geographic reach and a diversified energy portfolio, this allows us to offer a variety of solutions depending on the conditions of the country where we operate.

"Chile is an important country for GDF SUEZ in Latin America and this new development shows the Group's commitment to this growing region

At 3:53pm: (LON:IPR) International Power share price was +1.05p at 323.95p


Story provided by StockMarketWire.com

[waldron] 29/11/2011 17:08

GDF Suez and Intl Power inaugurate two thermal plants in Chile
29 November 2011 | 15:53pm
StockMarketWire.com - GDF Suez and its 70%-owned International Power have inaugurated two 150MW thermal power plants in Chile.

The Andina and Hornitos plants will supply Chile's Norte Grande Interconnected Power System, which mainly supplies power to the Esperanza and Gaby mines located in the north of the country.

Chairman and CEO Gérard Mestrallet said: "Our group is constantly investing in the research and development of new, highly efficient and innovative technologies.

"Combined with our broad geographic reach and a diversified energy portfolio, this allows us to offer a variety of solutions depending on the conditions of the country where we operate.

"Chile is an important country for GDF SUEZ in Latin America and this new development shows the Group's commitment to this growing regio

At 3:53pm: (LON:IPR) International Power share price was +1.05p at 323.95p


Story provided by StockMarketWire.com

[waldron] 29/11/2011 17:07

France's Besson Favors Keeping Household Gas Rates Unchanged
November 29, 2011, 9:33 AM EST
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By Tara Patel


(Updates with comment from minister in second paragraph.)

Nov. 29 (Bloomberg) -- French Industry Minister Eric Besson wants to keep natural gas rates unchanged for households through July even after the country's highest court ordered the government to lift a price cap.

The minister "is studying all options and favors a scenario that would avoid any increase in gas tariffs for individuals between now and July," according to a statement from Besson's office.

France's highest court yesterday suspended a government decision to freeze regulated gas prices for consumers and ordered the energy ministry to set new tariffs within a month.

The ruling has thrown into question the way regulated prices are set in France for GDF Suez SA, the former monopoly that is still 36 percent state-owned. The government, facing presidential elections next April and May, is under pressure from consumers not to raise prices.

The government in April froze household gas prices for a year, a decision the energy regulator ruled should be reversed from Oct. 1 to allow GDF Suez to cover supply costs. The regulator said the rates should have been raised Oct. 1 by 8.8 percent and 10 percent depending on the type of household consumer. Instead the government kept prices unchanged for households and raised them 4.9 percent for businesses.

Price Cap

Suppliers competing with the utility, including Direct Energie SA and Poweo, asked the court to lift the price cap because regulated rates weren't high enough to cover costs of supply and hindered competition. GDF Suez brought a separate case against the government saying the rates would lead to a 400 million-euro ($533 million) shortfall for the utility.

GDF Suez and the government reached a so-called public service agreement for 2010-2013 that gave partial responsibility for household prices to the regulator. The regulator would have a "binding opinion" on rates to take the pressure off the government, which historically has been reluctant to raise tariffs.

At the end of 2009, GDF Suez said it hadn't covered supply costs in France in four of the previous five years because state-set rates were too low. In August of that year, the accumulated shortfall was almost 2 billion euros.

--Editors: Alex Devine, Ana Monteiro

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[waldron] 28/11/2011 19:20

UPDATE: French Court Suspends Government Gas Price Freeze
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Gdf Suez (EU:GSZ)
Intraday Stock Chart
Today : Monday 28 November 2011
France's highest administrative court Monday suspended a French government imposed gas price freeze saying that the government's decision, which comes months before a Presidential election, did not seem legally justified.

At the end of September the French Industry Ministry maintained a price freeze for residential users and small businesses. In October an association of French energy groups, which include Direct Energie and Poweo, filed a complaint to France's highest court saying that the government price freeze made it impossible for them to compete with industry heavyweight GDF Suez SA (GSZ.FR).

In its ruling the French administrative court said it found "serious doubt" about the legality of the government decision which ignored independent statistics on the changes in the price of wholesale gas.

In a statement the court said that government ministers have one month to clarify their position on gas prices. Regulated gas tariffs for household and small companies are normally reviewed every three months and vary up or down to reflect a rise or drop in the purchasing costs of distributors. However, demands for tariff rises submitted by GDF Suez and other gas distributors were rejected by the government twice this year, in the third and the fourth quarters. GDF has said a price freeze could cost the company EUR400 million.

The French industry ministry said in a statement Monday that it was working to formulate a new gas tariff which will conform to the French administrative court's ruling.

Despite efforts to take the gas tariff issue off the political agenda by creating an algorithm which would automatically reflect the change in wholesale gas prices, successive French governments have intervened to block price increases. The latest decision comes just months before the French 2012 Presidential elections.

For the government the price freeze was "pure opportunism," said Olivier Fréget, a lawyer at Allen & Overy, who advised the group of gas companies that issued the complaint.

-By Max Colchester, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 28/11/2011 18:16

By Heather Smith and Tara Patel


(Updates with GDF statement in fifth paragraph.)

Nov. 28 (Bloomberg) -- France's highest court suspended a Sept. 29 government decision to freeze regulated natural gas prices for consumers, ordering the energy ministry to establish new tariffs within a month.

Suppliers that compete with former natural gas monopoly GDF Suez SA, including Direct Energie SA and Poweo, asked the court to block the decision while they appeal the government's refusal to lift the freeze, which had been scheduled to expire Oct. 1.

"Serious doubts on the legality of the contested decision" exist, the Conseil d'Etat said in a statement today. No clause "allows ministers to suspend the application of the tariff formula laid out in the decree" on regulating natural gas prices.

The government froze rates for a year in April, a decision the energy regulator ruled should have been reversed Oct. 1 to allow GDF Suez, which is 36 percent-owned by the state, to cover the costs of buying natural gas for the French market. The freeze is "not compatible" with an open market, said the Commission de Regulation de l'Energie, which oversees the power sector.

The court agreed with legal analysis by GDF Suez, which filed a separate appeal to the freeze after the suppliers, a spokeswoman for the utility said today by telephone. GDF Suez will work with the energy ministry to establish new tariffs, she said, declining to be cited by name according to company policy.

Shares Rise

"The ministry in charge of energy is now preparing a new tariff decree which will conform with the Conseil d'Etat decision," the office of French Industry Minister Eric Besson, who is also in charge of energy policy, said today in an e- mailed statement.

GDF Suez rose 7.7 percent in Paris today to 19.53 euros. The French gas price freeze could result in a 400 million-euro revenue shortfall for the company, Chief Executive Officer Gerard Mestrallet said this month.

Natural gas supply costs rely both on short-term market prices as well as on long- and medium-term contracts reached by GDF Suez with countries like Russia, meaning a freeze on the latter's prices would reduce profit margins for GDF Suez's competitors, the court said.

The freeze would have the effect of ''compromising their presence in the gas-distribution market as well as the public goal to open this market to competition," the court said in the statement.

The energy ministry sets the rates paid by households and business clients based on recommendations from GDF Suez, which it doesn't always follow. The government is considering modifying the way regulated rates are calculated to reflect that GDF Suez relies more heavily on the spot market, where prices are lower, than long-term contracts with suppliers like Russia and Norway.

--Editors: Anthony Aarons, Will Kennedy

To contact the reporters on this story: Heather Smith in Paris at [e-mail]; Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Anthony Aarons at [e-mail].

[waldron] 27/11/2011 12:59

By Bloomberg News


Nov. 25 (Bloomberg) -- China's sovereign wealth fund may give "indirect" support to Europe through investments without being the nation's main route for any aid, said Jesse Wang, the executive vice president of China Investment Corp.

The fund "wouldn't be the main channel" if China helps tackle the sovereign-debt crisis, Wang said in an interview at a forum in Beijing yesterday. "However, if during such a process there are good investment opportunities in Europe and if CIC's investment helped the destination company or country to recover and developed the economy, that would be indirect support."

European leaders are looking to China, the holder of the world's largest foreign-exchange reserves at $3.2 trillion, as a source of funds as the region's crisis threatens to trigger a global slump. China is among countries that may be willing to support Europe through the International Monetary Fund if policy makers agree on a plan, World Bank President Robert Zoellick said in a Nov. 17 interview.

CIC managed $409.6 billion at the end of 2010.

"As a commercial entity, CIC is seeking reasonable returns with controllable risks," Wang said. He cited an investment in the exploration and production business of Paris-based GDF Suez SA, Europe's largest natural-gas network operator, as an example of what appeals.

More than $4 trillion has been erased from the value of equities worldwide this month as rising borrowing costs in the euro-area stoked concern the debt crisis will derail economic growth.

Risk Capabilities

In China, "CIC is under no obligation to follow the government's policy orders in its operations because it's a commercial entity," Wang said. "If the government carried out certain policy moves, CIC usually wouldn't participate because it has different operational targets and risk-taking capabilities."

Asked if China will buy European bonds, he said the Chinese government is studying "which way and through which products" to support the region.

On Germany's failure to sell all the 10-year bonds offered at an auction Nov. 23, he said: "One shouldn't rush to some decisive judgment about the sales or worry that the debt crisis has spread to the core euro zone."

--Li Yanping. Editors: Paul Panckhurst, Joshua Fellman

To contact Bloomberg News staff for this story: Li Yanping in Beijing at [e-mail]

To contact the editor responsible for this story: Paul Panckhurst at [e-mail]

[waldron] 24/11/2011 08:14

GDF SUEZ
The French utility has joined other major European utilities in entering
talks with Russia's Gazprom to renegotiate the price of oil-indexed gas supply
contracts, the head of economic research at its trading arm said.

[waldron] 23/11/2011 14:17

By Tara Patel


(Updates with comment on gas prices in fifth paragraph.)

Nov. 23 (Bloomberg) -- French Industry Minister Eric Besson said state-regulated power rates charged by Electricite de France SA may rise in January.

"They will likely increase," Besson said in an interview on RMC radio. "Any increases have to be extremely limited so as not to weigh on purchasing power."

The government, facing an election next year, is under pressure to curb energy costs for consumers including regulated power and natural gas rates and gasoline prices. Prime Minister Francois Fillon pushed up power prices on July 1 and said the increase would be limited to 2.9 percent until June 30, 2012.

"The law obliges us to take into account the cost of supply for gas and the cost of production for electricity," Besson said. "For GDF Suez there is debate about how this cost of supply is calculated."

GDF Suez SA, operator of Europe's biggest gas network, has mounted a legal challenge to a government-imposed freeze on gas prices for households. The freeze will remain in place through the April-May presidential elections, Besson said.

The price at which EDF sells wholesale nuclear power to rivals is sufficient to allow the utility to pay for work to improve safety at nuclear reactors, Besson said.

France's nuclear watchdog is due to announce in January the results of safety audits at the country's atomic installations.

--Editors: Alex Devine, Tony Barrett

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[waldron] 23/11/2011 14:14

(CercleFinance.com) - HSBC a relevé mercredi sa recommandation sur GDF Suez de 'neutre' à 'surpondérer', avec un objectif de cours relevé de 23 à 24 euros

[waldron] 22/11/2011 11:27

Le mardi 22 novembre 2011, à 11h 37
(CercleFinance.com) - Un avis publié par l'Autorité des marchés financiers (AMF) indique que la société de gestion américaine Capital Research and Management Company (CRMC) a franchi en baisse, le 18 novembre dernier, le seuil de 5% du capital du groupe GDF Suez (Euronext: GSZ.NX - actualité) .

Après une cession de titres sur le marché, CRMC pointe à 4,99% du capital et des droits de vote de l'opérateur énergétique.

[waldron] 18/11/2011 19:56

Symbole Cours Variation
GSZ.NX 19.32 -0.04

GSZ.PA 19.32 -0.04


Suivre ces actions
{"s" : "GSZ.NX,GSZ.PA","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Le vendredi 18 novembre 2011, à 18h 09
Sur les 5 derniers jours, le titre s'est effondré de 5.78%. Depuis le début de l'année, il est en baisse de 28.06%.

Du point de vue de l'analyse technique : le RSI est inférieur à sa zone de neutralité des 50. Le MACD est inférieur à sa ligne de signal et négatif. La configuration est baissière à court terme. Enfin, le titre est inférieur à sa moyenne mobile 50 jours.
A noter que les volumes sont en baisse depuis quelques jours.

Graphiquement : les niveaux de résistances se situent sur : 20.2 puis 20.8. Tandis que les prochains supports sont sur : 17.4 puis 16.5.

Notre préférence : Le titre GDF Suez (Euronext: GSZ.NX - actualité) (GSZ) est baissier tant que 20.8 est résistance.

Le point d'invalidation de notre scénario est situé sur : 20.8.
Cours de référence : 19.3.
Copyright © CHARTS

[waldron] 18/11/2011 13:39

GDF Suez Won't Cut Dividend in Response to Freeze, Tax
QBy Tara Patel - Nov 18, 2011 1:39 PM GMT+0100 .
inShare.0
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Business ExchangeBuzz up!DiggPrint Email ...GDF Suez (GSZ) SA, operator of Europe's biggest natural-gas network, won't cut its dividend for the next two years even as the company struggles to cope with a freeze on domestic gas tariffs and higher taxes in Belgium.

The annual payout to shareholders will be "at least equal" to last year's dividend, while sales and earnings before interest, tax, depreciation and amortization will be higher, Chief Executive Officer Gerard Mestrallet told an investor conference today in Paris.

The utility, which is based in Paris, is dealing with a freeze in natural gas prices in France for consumers ahead of next year's presidential elections and a more than doubling of a nuclear tax in Belgium. GDF Suez has mounted a legal challenge against the French government, its biggest shareholder, over the price freeze and has vowed to contest the Belgian tax using "all legal means."

The company posted Ebitda of 15.1 billion euros ($20.53 billion) last year on sales of 84.5 billion euros. It paid a dividend of 1.50 euros a share.

GDF Suez's growth will come in part from raising power production outside Europe, Mestrallet said, adding that regulatory decisions by the French and Belgium governments have depressed the company's share price. The stock is down 28 percent this year.

'Hurting Us'
"There are two state decisions that are hurting us," Mestrallet said today. "This is the kind of thing that is happening now."

Regulatory decisions have multiplied and "the utility industry isn't doing very well," he said. The French gas price freeze will result in a shortfall for the company of 400 million euros, GDF Suez has said.

The Belgian decision would raise an annual nuclear tax to 550 million euros from a previously-agreed annual level of 215 million to 245 million euros, GDF Suez has said. It would also cancel a 10-year lifetime extension for three reactors in that country.

Shutting the reactors in 2015 would lower GDF Suez's Belgian nuclear capacity by about a third, or 1,800 megawatts, effectively reducing the utility's worldwide electricity production capacity by 2 percent, Mestrallet said today.

"I am fighting this," he said.

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]