Bear market ravages water industry
- From: Vol 3, Issue 10 (October 2002)
- Category: General
- Region: Unspecified
- Country: France, United Kingdom and United States
- Related Companies: AWG, Cadiz Inc, Calgon Carbon, JP Morgan, Philadelphia Suburban, Severn Trent Water, Suez and Veolia Environnement (formerly Vivendi Environnement)
September concluded one of the worst quarters in the last 50 years. Ending on a particularly sour note, several major blue-chip companies issued profit warnings that sent a shockwave through US markets.
The Dow Jones industrial average tumbled 314 points to finish the month at 7701. The sharp drop also concluded five straight losing weeks for the Dow, pushing blue-chips to a four-year low of 7683.
The current bear market ravaged the global water industry, with declines in share value in nearly every major market. Only a few companies escaped its clutches ...
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