WATER STOCKS REVIEW - European water stocks take a step back
- From: Vol 9, Issue 1 (January 2008)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: Aguas de Barcelona, Arcapita, Deutsche Bank, Evolution Securities, Gaz de France, Kelda, Northumbrian Water, Pennon, Pictet, Royal Bank of Scotland, South Staffordshire Water, Southern Water, Suez, United Utilities, Veolia and Yorkshire Water
M&A speculation and associated volatility helped attract a new breed of investor to listed European water stocks in 2007. The market could not match the gains it made in 2006.
The publicly quoted European water companies saw more modest – and patchy – increases in their share prices over the past 12 months than during 2006, when there was spectacular growth in valuations virtually across the board.
The two French giants, Suez and Veolia, were the two best-performing Continental European stocks over the period, while Pennon, Kelda and Northumbrian all saw double-digit ...
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