European water names streak ahead in 2019

摘要

European water stocks enjoyed a spectacular bonanza in 2019, as three quarters of the index constituents achieved year-on-year gains of more than 30% in their share prices. A substantial recovery over the 12 months was certainly to be expected, given the sharp decline in valuations during the final quarter of 2018 as a result of the widespread market slump. Nevertheless, the improvements they recorded over the course of 2019 comfortably exceeded the previous year's losses in all but one case. Shares in the three quoted UK companies rose consistently over the year, right from the point in January when Ofwat granted all of them "fast-track" status for the business plans they had put forward to cover the five-year AMP7 period from April 2020 onwards.