BULL MARKET

* 2005 was a great year for water stocks, with the big European water stocks leading the way (see Market Review on pp8-12).

The momentum seems to have carried on into 2006 for RWE, amidst newspaper reports that UK private equity baron Guy Hands is interested in buying Thames Water. The shares reached a record high of €65 in January, helped by the reports and by news reported last month in GWI that Macquarie Bank was also interested. It looks as if the ...

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