The end of blue-sky valuations
- From: Vol 10, Issue 1 (January 2009)
- Category: General
- Region: Europe
- Country: France, Spain and United Kingdom
- Related Companies: Acea, Agbar, BWT, Christ Water Technology, Modern Water, Northumbrian Water, Pennon and Severn Trent
After a poor performance in 2008, European water stocks may well have bottomed out. The new environment has created some interesting investment opportunities.
Shares in the four remaining listed UK water groups proved significantly more resilient than Continental European water stocks in 2008, as many of the latter lost more than half their value amid the general market crash.
By contrast, the share prices of Northumbrian, Pennon, Severn Trent and United Utilities virtually maintained the levels at which they began the year – that ...
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