French left behind in European water rally
- From: Vol 12, Issue 1 (January 2011)
- Category: General
- Region: Europe
- Country: France and United Kingdom
- Related Companies: Acea, BWT, Gruppo IREN, Kemira, Modern Water, Northumbian Water, Pennon, Qatar Electricity & Water Co, Séché Environnement, Severn Trent, Suez Environment , United Utilities and Veolia
European water stocks rallied strongly in 2010, led by the UK water and sewerage companies. The French giants, meanwhile, remained in the doldrums, despite improving their credit metrics last year.
Exposure to a portfolio of quoted European water stocks weighted by market capitalisation and water exposure would have provided a return of 16.3% over the course of 2010, as most ended the 12-month period considerably higher than where they started it.
The four remaining listed water and sewerage groups in the UK, for example, all registered strong double-digit increases ...
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