Iraqi concerns and sluggish US economy flatten European rally
- From: Vol 3, Issue 9 (September 2002)
- Category: Performer of the month
- Region: Unspecified
- Country:
- Related Companies: American Water Works, Calgon Carbon, General Electric/Osmonics, JP Morgan, Ondeo/Suez, Pall Corp, RWE, Severn Trent Water, United Utilities, US Filter and Veolia Environnement (formerly Vivendi Environnement)
European markets rallied throughout most of August, but turned sharply negative as any optimism evaporated due to nervousness over a potential conflict in Iraq and continued concerns over the stability of the US economy.
The London, Paris and Frankfurt markets plummeted during the final days of trading. At one point, the FTSE 100 was up more than 4% for the month, but had fallen sharply by the end of August. On 6 September, the index was hovering at 4107, down 3.3%.
The UK water industry showed strong growth for the month. At its ...
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