STOCK PICKS

* To celebrate World Water Day, UBS in London published a research note on the water sector entitled Liquid Gold.

Author Julie Hudson rates water equipment companies ahead of water utilities. “If, through scarcity, water is becoming “liquid gold”, then is this, by analogy, an opportunity for providers of specialist equipment and services? Selectively, yes, but we note question marks over profitability. Water utilities
meanwhile are subject to regulatory risk and the vagaries of water availability by region, so the ...

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