Index soars on defensive rally

摘要

The GWI Global Water Index soared by nearly 6% to reach a new all-time high this month, as many large-cap names outperformed the wider equities market by a considerable margin. While UK water utilities' reliance on domestic supply chains meant they were largely able to shrug off any lingering con-cerns over Brexit, the fact that the three remaining listed companies all accepted Ofwat's price determinations for the next five years also went a long way to remov-ing any uncertainty over the possibility of a protracted battle with the Competition Commission (see story p20).