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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  ENGIE    ENGI   FR0010208488

ENGIE

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ENGIE : U.K. Regulator Fines Engie Global Markets For Market Manipulation

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09/05/2019 | 05:20am EDT

By Kim Richters

Ofgem has fined energy trading platform Engie Global Markets around 2.1 million pounds ($2.6 million) for market manipulation, the U.K. energy regulator said Thursday.

Ofgem said that one of the platform's traders had manipulated wholesale gas prices between June and August 2016 to increase trading profits, adding that the trader had engaged in a type of market manipulation called spoofing.

Engie Global Markets is a wholly-owned subsidiary of France's energy company Engie SA (ENGI.FR).

"In November 2016, a market participant alerted Ofgem to suspicious activity on the wholesale gas market for Great Britain," Ofgem said in a statement.

The regulator said "it considers that the company failed to take appropriate measures to prevent or detect the breach from happening." Ofgem had found no evidence of more widespread market manipulation.

The company fully cooperated with the regulator's investigation and had taken measures like increasing surveillance of trading activity, Ofgem said.

Write to Kim Richters at kim.richters@wsj.com

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Financials (EUR)
Sales 2019 63 370 M
EBIT 2019 5 657 M
Net income 2019 2 625 M
Debt 2019 24 638 M
Yield 2019 5,39%
P/E ratio 2019 13,7x
P/E ratio 2020 12,4x
EV / Sales2019 0,94x
EV / Sales2020 0,90x
Capitalization 34 845 M
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Mean consensus BUY
Number of Analysts 19
Average target price 15,67  €
Last Close Price 14,45  €
Spread / Highest target 28,0%
Spread / Average Target 8,42%
Spread / Lowest Target -10,0%
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Managers
NameTitle
Isabelle Kocher Chief Executive Officer & Director
Jean-Pierre Clamadieu Chairman
Paulo Almirante Chief Operating Officer
Judith Hartmann Chief Financial Officer & Executive Vice President
Gary Leibowitz Finance Director
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