BLOOD IN THE WATER
- From: Vol 9, Issue 12 (December 2008)
- Category: Need to know
- Region: Europe
- Country: United Kingdom
- Related Companies: Ofwat
* It has been a terrible month for the UK water utilities sector, with more than £2.3 billion or 20% of the value knocked off the value of the four quoted companies (the FTSE index slipped by only 0.8% over the same period).
Weak results, the prospect of deflation (which implies reduced revenues), withdrawals by hedge funds, and concerns about the regulator taking a tougher line with the companies were all to blame (see story p13). The share price falls helped pull the GWI European Water Index down by 15%. The GWI US Water Index was 1% up (see story p12).
* The performance ...
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