MARKET TALK: Morgan Stanley Ups United Utilities To Overweight
23rd Jul 2010 07:35
0635 GMT [Dow Jones] Morgan Stanley raises United Utilities Group (UU.LN) to overweight from equalweight, and boosts its target price to 595p from 570p. Keeps fellow water company Severn Trent (SVT.LN) at overweight, noting it regards having both companies at overweight as the best way to play the t
Read moreLondon pre-open: Footsie set to crawl higher
23rd Jul 2010 07:33
A modestly firmer start is expected in London with traders predicting the FTSE 100 index will open around 7 points higher. Mobile phone network operator Vodafone returned to organic revenue growth in the April to June quarter of 2010 for the first time since the near global recession. Group revenue
Read moreUnited Utilities Trading In Line, Proposes 23.13p Final Dividend
23rd Jul 2010 07:23
LONDON (Dow Jones)--United Utilities Group PLC (UU.LN) said Friday that current trading is in line with the group's expectations, and said it is proposing a final dividend of 23.13 pence per ordinary share, taking the total dividend for the 2009/10 financial year to 34.30 pence. MAIN FACTS:
Read moreUnited Utilities trading as planned
23rd Jul 2010 07:12
United Utilities says current trading reflects lower prices for 2010/11, revenue pressures from reduced water volumes, bad debt and an anticipated rise in property rates. But the firm, which revealed a drop in full-year profits in May due to high borrowing costs, will tell shareholders at today’s A
Read moreUK Water Companies To Benefit From Cheap EU Loans - Report
18th Jul 2010 12:48
LONDON (Dow Jones)--The European Union will raise loans to the U.K.'s 10 biggest water utilities by 60% to EUR4 billion, The Independent on Sunday said. The European Investment Bank is the EU's infrastructure lending arm and is already the largest single lender in the sector. The companies,
Read moreASOS boss raises £15m from share sale
14th Jul 2010 16:36
Nick Robertson, the founder and chief executive of online fashion retailer ASOS, has raised just short of £15m from a share sale immediately after a first quarter trading update. Robertson sold just over 1.68m shares at 890p each. Prior to the start of the day that was near to the all-time high fo
Read moreMARKET TALK: UBS Downgrades Severn Trent To Neutral Vs Buy
14th Jul 2010 08:13
0713 GMT [Dow Jones] UBS downgrades Severn Trent (SVT.LN) to neutral from buy after the stock gives a total return of 24% year-to-date, outperforming both the FTSE 100 and the sector. Sees little fundamental upside for Severn Trent, although highlights that M&A will be a factor for UK regulated util
Read moreUK MARKET TALK ROUNDUP: SHARES LOSING
14th Jul 2010 08:13
Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0713 GMT [Dow Jones] UBS downgrades Severn Trent (SVT.LN) to neutral from buy after the stock gives a total return of 24%
Read moreMARKET TALK: United Utilities CDS Underperforms
6th Jul 2010 16:23
1523 GMT [Dow Jones] United Utilities (UU.LN) is the worst performing iTraxx Europe constituent by percentage spread change, according to Markit, with 5-year protection 8.5 bps wider at 96/101 bps. An analyst says there may be some read across from the Abertis (ABE.MC) story, after Abertis sharehold
Read moreElectricity North West Buys United Utilities Electricity Services
28th Jun 2010 08:45
LONDON (Dow Jones)--Electricity North West Limited, which owns the North West's electricity network said Monday it has signed a contract with United Utilities Group (UU.LN) for the purchase of United Utilities Electricity Services Limited, or UUES. MAIN FACTS: -The purchase of UUES, which is
Read moreLondon close: Footsie sinks to two-week low
24th Jun 2010 16:42
An afternoon rally fizzled as Wall St opened lower sending Footsie close to its low for the day. Miners were a poor market all day and ENRC, Kazakhmys, Lonmin, Fresnillo and Xstrata were the big losers on fears of a double-dip recession. Elsewhere in the resource sector oil giant BP said the low
Read moreLondon afternoon: Utilities in demand
24th Jun 2010 14:23
Leading shares continued to pare losses over the lunch time session and though the Footsie remains in negative territory, much of that us due to the weakness of mining stocks. ENRC, Kazakhmys, Lonmin, Fresnillo and Xstrataare the big losers in the sector as concerns about Europe's debt crisis resu
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
23rd Jun 2010 07:19
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0619 GMT [Dow Jones] The VAT increase announced by the UK Chancellor will benefit UK water and energy networks, says Deutsche
Read moreMARKET TALK: VAT Hike Good For UK Water, Energy - Deutsche
23rd Jun 2010 07:19
0619 GMT [Dow Jones] The VAT increase announced by the UK Chancellor will benefit UK water and energy networks, says Deutsche Bank. Says the increase will be a benefit for the regulated networks since it will feed through to inflation via the retail price index. Says the government's revised RPI for
Read moreMellon adds to Speymill Deutsche stake
22nd Jun 2010 17:03
Speymill Deutsche Immobilien Property Company non-executive director Jim Mellon has been buying shares in the AIM-quoted property investment company just after it has agreed to take over the management of its own property portfolio. Mellon bought 5m shares at €0.05772 a share and 2m shares at €0.06
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