  We report the results from the temporal and spectral analysis of an
XMM-Newton observation of Nova Centauri 1986 (V842 Cen). We detect a period at
3.51$\pm$0.4 h in the EPIC data and at 4.0$\pm$0.8 h in the OM data. The X-ray
spectrum is consistent with the emission from an absorbed thin thermal plasma
with a temperature distribution given by an isobaric cooling flow. The maximum
temperature of the cooling flow model is $kT_{max}=43_{-12}^{+23}$ keV. Such a
high temperature can be reached in a shocked region and, given the periodicity
detected, most likely arises in a magnetically-channelled accretion flow
characteristic of intermediate polars. The pulsed fraction of the 3.51 h
modulation decreases with energy as observed in the X-ray light curves of
magnetic CVs, possibly due either to occultation of the accretion column by the
white dwarf body or phase-dependent to absorption. We do not find the 57 s
white dwarf spin period, with a pulse amplitude of 4 mmag, reported by Woudt et
al. (2009) either in the Optical Monitor (OM) data, which are sensitive to
pulse amplitudes $\gtrsim$ 0.03 magnitudes, or the EPIC data, sensitive to
pulse fractions $p \gtrsim$ 14 $\pm$2%.
