UK drags European water index down
- From: Vol 10, Issue 8 (August 2009)
- Category: General
- Region: Europe
- Country:
- Related Companies: American Water, Aqua America, RWE, Severn Trent, Suez Environment , United Utilities and Veolia Water Solution & Technologies
A clamp-down from Ofwat wiped more than £450 million off the value of listed UK water utilities. It helped the GWI European Water Index to under perform for the second month in a row.
Publicly quoted water stocks had something of a rough month, as quarterly earnings announcements revealed just how hard the global recession is biting. Although it rose by 5.9%, the GWI Global Water Index significantly underperformed the major stock indices (see below, right).
Europe was the only region to fall last month, with three of the four listed UK water ...
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