Pennon on track for FY targets despite UK flooding
14th Feb 2014 07:48
British water utility Pennon said it was on course to hit annual targets despite the severe flooding hitting its core market in south-west England. Pennon said its regulated business South West Water had continued its robust performance against regulatory requirements between 2010 and 2015 and was
Read moreLondon pre-open: FTSE to fall further after US manufacturing data
4th Feb 2014 07:22
- FTSE to fall 45 points - Spanish unemployment and UK construction in focus - BG Group posts rise in Q4 revenue - BT Group reports weaker Q4 and overall poor FY profit City sources predict the FTSE 100 will open 45 points below yesterday's close of 6,465.66, extending yesterday's losses as stocks
Read moreFitch lowers outlook on UK water utilities to 'negative'
29th Jan 2014 14:23
Ratings agency Fitch has today lowered its outlook on the credit rating of UK water companies to 'negative' from 'stable' following the release of public regulator Ofwat's price review for the fiscal years running from 2015 to 2020 earlier this week. In the firm's opinion, Ofwat's more flexible ap
Read moreSevern Trent and United Utilities rise on bid talk
27th Jan 2014 14:41
Water companies were floating higher on Monday amid reheated bid talk and better-than-expected guidance from regulators on how much slack companies would be cut in their investment plans. Severn Trent rose 1.49% to 1,703p, United Utilities jumped 2% to 714.5p and Pennon Group rose 0.29% to 681.5p b
Read moreBroker snap: Credit Suisse downgrades Severn Trent after of Ofwat, dividend at risk
23rd Jan 2014 11:14
Credit Suisse has downgraded its rating for Severn Trent from 'neutral' to 'underperform' and cut its target price from 1,580p to 1,540p ahead of the Ofwat regulatory price review that will set prices for 2015-20. The review, which concludes on January 27th, will set a so-called 'vanilla' weighted
Read moreThursday broker round-up UPDATE
23rd Jan 2014 09:12
Afren: Investec ups target price from 170p to 200p and maintains a buy recommendation. AG Barr: Investec raises target price from 585p to 620p retaining an add rating. Canaccord Genuity ups target price from 630p to 650p and keeps a buy recommendation. Arbuthnot: Numis downgrades from add to hold
Read moreBroker snap: Morgan Stanley upgrades United Utilities ahead of Ofwat pricing review
16th Jan 2014 09:09
Morgan Stanley has raised its rating for United Utilities as part of its review into the UK water sector ahead of the Ofwat regulatory price review that will set prices for 2015-20. "The 2014 regulatory review will clearly be tough but this is surely well known," the US bank said in a research repo
Read moreThursday broker round-up UPDATE
16th Jan 2014 08:59
Aberdeen Asset Management: Canaccord Genuity cuts target price from 586p to 540p, while its buy recommendation remains unchanged. Anglo American: UBS ups target price from 1500p to 1580p upgrading from neutral to buy. Antofagasta: Investec reduces target price from 716p to 685p maintaining a sell
Read moreBroker snap: JP Morgan waters down Severn Trent rating
7th Jan 2014 12:51
After tough talk by the water regulator about the upcoming regulatory review period, JP Morgan has issued a cautionary note on the UK water companies, saying the chance of mergers and acquisitions is now less likely this year. "We believe that Ofwat's decision to alter the price review timetable
Read moreLondon close: Stocks fall one per cent on earnings, taper fears
12th Dec 2013 16:39
- Perform plummets after profit warning - Sports Direct and Wood Group fall sharply after results - Taper bets increase ahead of Fed meeting, US data in focus - FTSE 100 at lowest level since mid-October techMARK 2,652.61 -0.83% FTSE 100 6,445.25 -0.96% FTSE 250 15,211.54 -1.20% The FTSE 100 finis
Read moreSector movers: Defensive utilities gain amid wider market weakness
12th Dec 2013 15:25
The utilities industry was the only sector trading in positive territory on Thursday as investors turned to defensive assets amid a wider market sell-off. London's FTSE 100 was trading as much as 1% lower during today's session as investors scaled back their risk appetite ahead of a potential taper
Read morePennon's Viridor signs 25-year waste-to-energy deal
10th Dec 2013 13:04
Pennon's Viridor subsidiary has won a 25-year waste treatment deal with a group of five Welsh local authorities. FTSE 250-listed Pennon said the public private partnership contract will help enable Viridor's £223m energy-from-waste (EfW) facility being built at Trident Park in Cardiff to be earning
Read moreMonday broker round-up UPDATE
2nd Dec 2013 08:22
Aberdeen Asset Management: Credit Suisse raises target price from 465p to 515p and maintains a neutral rating. Admiral Group: Citi moves target price from 1215p to 1220p and retains a neutral rating. AVEVA Group: Numis upgrades to buy with a target price of 2980p. AZ Electronic Materials: Deutsch
Read morePennon grows profits in H1 despite Viridor weakness
28th Nov 2013 07:44
- Pre-tax profit rises 3.5 per cent in H1 - South West Water makes up for Viridor weakness - Dividend raised by 7.2 per cent Strong growth at Pennon's South West Water business made up for a slump in profits at its Viridor waste management business during the first half, helping the group's bottom
Read moreFriday broker round-up UPDATE
8th Nov 2013 09:21
Abcam: Canaccord Genuity moves target price from 396p to 386p and keeps a sell recommendation. N+1 Singer shifts target price from 450p to 445p downgrading to sell. Aberdeen Asset Management: Jefferies lowers target price from 440p to 430p and reiterates a hold recommendation. Anglo American: Gold
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