FTSE gets a boost from power companies

Power prices reached their highest point in four months yesterday amid near-record temperatures across northern Europe. Centrica, the UK's biggest energy supplier, has advanced 5.2p, or 1.9%, to 282.25p while International Power, an electricity producer on four continents, has so far rallied 5.75p, or 2.1%, to 283.5p. Corus, the UK's biggest steelmaker, has added 10.75p, or 2.7%, to 413.75p after Citigroup this morning raised its estimates for 2006 and 2007 European steel prices by 10% and 5% respectively. The brokerage has also raised its earnings forecast for Corus by 22% for 2006 to ...