Pennon highlights key points from Ofwat report
23rd Jul 2009 08:31
Pennon Group has highlighted what it sees as the key details of the Draft Determination announced by the water regulator Ofwat this morning, as they relate to its subsidiary, South West Water. The draft determination covers the period 2010 to 2015, known as the K5 period.. The key elements for So
Read moreLondon open: Water groups fall
23rd Jul 2009 08:17
London's top stocks have opened slightly lower, with utilities among the main fallers after Ofwat called for lower water bills. The water regulator outlined proposals that would see the average water bill fall by £14 to £330 before inflation between 2010 and 2015. United Utilities is leading the fa
Read moreOfwat to rule on water firms' five-year plans
22nd Jul 2009 11:29
Just two days before Ofwat, the water regulator, was due to give its preliminary verdict on water firms' plans for inflation-busting price rises, Severn Trent became the latest to complain of consumers cutting back on water use. Unfortunately for the water firms, given that the fall in consumption
Read moreSector movers: Water groups wanted
22nd Jul 2009 10:15
Shares in water groups advance ahead of tomorrow's preliminary ruling from the water regulator on their five-year business plans. According to Nomura, investors have been overly pessimistic about Ofwat's plans. The broker thinks the sector may rally tomorrow when Ofwat's report turns out to be mor
Read moreSunday Tips round-up: Electrocomponents, Pennon, BTG
19th Jul 2009 10:27
The Sunday Telegraph has upped its stance on distributor Electrocomponents to buy from hold. Based on current forecasts the shares are trading on a March 2010 earnings multiple of 14.3 times, falling to 13.5 in 2011. The yield of 7.1%is well worth having - and this yield is based on expectation of
Read moreLondon afternoon: Downward drift continues
8th Jul 2009 15:36
The majority of blue-chip stocks remain lower on the day, though heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its clients to take advantage of recent share price weakne
Read moreLondon midday: Footsie still flat
8th Jul 2009 12:02
On another directionless day with little in the way of company news to guide sentiment, Footsie sits just in the blue. Heavily weighted miners are limiting the extent of the fall on Footsie after positive broker comment this morning. Investec has upgraded Rio Tinto and BHP Billiton, advising its c
Read moreBroker tips: Water companies, Carnival, Taylor Wimpey
19th Jun 2009 13:19
Cruise operator Carnival's second quarter trading update yesterday has been generally well received by the investment analyst community, with Evolution, Numis and Charles Stanley all making positive noises. Charles Stanley said the second quarter figures were ahead of prior guidance and market cons
Read moreBroker snap: GS raises price targets of water companies
19th Jun 2009 13:15
Ahead of the five-yearly pricing review by Ofwat, the water industry watchdog, Goldman Sachs has been running the rule over the water companies, with mixed results. The US bank has reduced its price target for Northumbrian Water to 237p from 262p, and has a "sell" recommendation on the stock. It al
Read moreLondon close: Late rally not enough
8th Jun 2009 17:01
Footsie came off its lows towards the close of trading Monday but still finished lower, held back by a weak mining sector. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofagasta all featured among the ten worst perfor
Read moreLondon afternoon: Lloyds rump placed at 60p
8th Jun 2009 14:20
Footsie clawed back some losses over the lunch time session but remains in the red, thanks largely to the weakness of miners, which are following metals prices lower. Mining stocks Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo, Lonmin and Antofa
Read moreLondon midday: Miners weigh down Footsie
8th Jun 2009 12:19
London's blue-chip index is doing its usual trick of following the miners, which today are in a down phase. The worst performers in the mining sector are Vedanta Resources, Eurasian Natural Resources, Anglo American, BHP Billiton, Rio Tinto, Fresnillo and Antofagasta. Hochschild Mining follows
Read moreLondon open: Bank news knocks Footsie
8th Jun 2009 08:40
Banking shares have dominated early trading after news from both Barclays and Lloyds, but investors have reacted cautiously in both instances. Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), which includ
Read moreLondon pre-open: Footsie to start lower
8th Jun 2009 07:40
Banking shares are likely to be in focus Monday morning after updates from both Barclays and Lloyds. Traders expect Footsie to drop 25 points early on. Barclays has confirmed talks are underway with US firm BlackRock over the future over its fund management arm Barclays Global Investors (BGI), whi
Read morePennon buys London waste recycling company
8th Jun 2009 07:27
Water group Pennon Group is beefing up its waste management arm with the purchase of London Recycling Limited. Viridor Waste Management, a subsidiary of Pennon, is paying £11m in cash for West Ham based London Recycling, a company which runs a full range of recycling operations. London Recycling h
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