Pink Picks: BHP, PHM debut, UK Budget

Energy news from the FT:

- Peter Hambro Mining moves to LSE
PHM shares rose 3 per cent to 535p on the first day

- TNK-BP bids for minority stake in Sibir Energy
Analysts said it was not yet clear whether TNK-BP would wind a controlling stake

- RWE chairman announces surprise departure
Thomas Fischer said he plans to step aside due to personal reasons

- Iberdrola profits fall 34 per cent
Spain’s biggest electricity utility due to weaker prices and demand

Energy news from the FT Budget:

- Carbon budget seeks green job boost
Critics say plan fails to ensure assistance for businesses to meet targets

- Fuel increases draw wrath of lobbies
Duty to be increased by 2p per litre from September

- North Sea companies welcome tax breaks
Treasury revealed that it expected North Sea tax revenues to fall by almost half

- Power users face levy to pay for clean coal
Government expected to back 2-4 pilot projects for carbon capture and storage technology

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