Upstream Share Discussion Threads

[master rsi] 20/12/2024 18:19

How the UPS are performing today

[master rsi] 20/12/2024 17:46

DOW

Well up after 2 hours of trading with a rise of 808 points

[bamboo2] 20/12/2024 16:23

UPS

GDWN 7540.0 7560.0

Price rising above rising sma's.
Breakaway gap earlier this week defines support zone.

[master rsi] 20/12/2024 09:08

MARKET REPORT
LONDON MARKET OPEN: boohoo investors meet at Frasers founder's bequest

(Alliance News) - Stock prices in London opened lower on Friday, after disappointing domestic retail sales figures and ahead of US personal consumption expenditures data.

UK retail sales volumes rose by 0.2% month-on-month in November, the Office for National Statistics said, improving from a 0.7% fall in October but falling short of the FXStreet-cited market consensus of 0.5% growth. On an annual basis, retail sales grew 0.5% in November. This missed the FXStreet consensus of 0.8%, and represented a slowdown from the 2.4% increase in the year to October.

"Considering November falls right in the middle of the crucial 'golden quarter' for retailers, this latest set of figures won’t get champagne corks popping," remarked AJ Bell's Danni Hewson. "Though the period doesn't cover that now ubiquitous Black Friday weekend which shoppers tend to hang on for...To put it bluntly, consumers had the rug pulled out from under them in the run-up to the Budget and anecdotal evidence suggests they were still being cautious with their cash in the days that followed."

UK public sector net borrowing came out about the same time.

"Government borrowing in the first eight months of the 2024/25 fiscal year at GBP113.2 billion was GBP21.5 billion above the March Budget forecasts, after a larger-than-expected deficit in November continues to leave the Chancellor on the back foot against the OBR's borrowing forecasts.

"But, November's overrun in isolation was just GBP1.2 billion, the joint-lowest overrun this fiscal year, and the OBR had already raised forecast public sector borrowing in 2024/25 by GBP40.3 billion in their October forecasts," Pantheon Macroeconomics' Elliott Jordan-Doak explained.

The FTSE 100 index opened down 54.24 points, 0.7%, at 8,051.08. The FTSE 250 was down 112.82 points, 0.6%, at 20,286.56, and the AIM All-Share was down 1.47 points, 0.2%, at 710.31.

The Cboe UK 100 was down 0.6% at 807.82, the Cboe UK 250 was down 0.5% at 17,825.83, and the Cboe Small Companies was down 0.1% at 15,841.01.

On the FTSE 100, Frasers was up 0.28 points. Small-cap retailer boohoo was up 0.5%.

Shareholders in the AIM-listed fast fashion group gather for a general meeting called by Mike Ashley, Sports Direct owner Frasers' founder and boohoo's largest shareholder with a 28% stake.

Ashley is seeking to appoint himself as chief executive and also wants a board seat for his long-term associate Mike Lennon, arguing that the company has underperformed.

On the FTSE 250, IP Group gained 1.4%.

It announced that two quoted companies in its life sciences portfolio, Intelligent Ultrasound and Abliva, have received cash acquisition offers.

IP Group expects to receive GBP8.8 million for its 20.8% Intelligent Ultrasound stake, and SEK725.3 million (GBP52.4 million) for its 9.5% Abliva stake.

Among smaller caps, Judges Scientific was up 0.4%.

It announced that Chair Alexander Hambro has decided to retire at the end of 2024, ultimately stepping down from the board at the conclusion of the next annual general meeting in May 2025.

Current Non-Executive Director Ralph Elman will succeed Hambro with effect from January 1.

In European equities on Friday, the CAC 40 in Paris was down 1.1%, while the DAX 40 in Frankfurt was also down 1.1%.

The pound was quoted slightly higher at USD1.2509 early on Friday in London, compared to USD1.2500 at the equities close on Thursday. The euro higher stood at USD1.0391, against USD1.0364. Against the yen, the dollar was trading lower at JPY156.83 compared to JPY157.39.

In Asia on Friday, the Nikkei 225 index in Tokyo was down 0.3%. In China, the Shanghai Composite was up 0.27 points, while the Hang Seng index in Hong Kong was down 0.1%. The S&P/ASX 200 in Sydney closed down 1.2%.

In the US on Thursday, Wall Street ended mostly lower, with the Dow Jones Industrial Average up marginally, the S&P 500 down 0.1% and the Nasdaq Composite down 0.1%.

Brent oil was quoted higher at USD72.46 a barrel early in London on Friday from USD72.18 late Thursday.

Gold was quoted higher at USD2,606.56 an ounce against USD2,596.22.

Still to come on Friday's economic calendar, as well as US PCE, look out for the eurozone's consumer confidence reading.

[master rsi] 20/12/2024 08:49

GGP
Today is the day to BOUNCE BACK on moving earlier at below 6p ( 5.9 v 6p )

[master rsi] 20/12/2024 08:26

FTSE

Opening 31 points lower

[master rsi] 19/12/2024 23:55

--------------- Post of the day --------------

telbap 19 Dec '24 - 15:47 - 33981 of 33981
My entire monitor is red, turning off I think

[master rsi] 19/12/2024 23:09

Starmer backs changes to nature protection rules to boost building
(Alliance News) - Keir Starmer has backed easing rules aimed at protecting nature that have been blamed for hampering major building projects.

The UK prime minister said "we could get the balance better" between conservation and construction.

In his latest attack on the "blockers" holding up the UK's ability to build, Starmer said some restrictions "don't seem, on the face of it, to make a lot of sense".

The prime minister has set out plans to build 1.5 million homes in England by the next election and wants decisions made on 150 major infrastructure projects.

Starmer told the Commons Liaison Committee that his target on house building is "a stretch".

But he told the panel of senior MPs that he would not be "defeatist" about the challenge of getting the skills or the supply chains needed to build the homes.

He said: "Do I accept it's a stretch? Do I accept it's ambitious? Yes I do, but we're determined to do it."

The prime minister views the current planning system as one of the main obstacles to achieving the economic growth he wants.

He told MPs on the Liaison Committee that nature protection regulations could be applied more strategically, rather than on every project, to remove one of the barriers to building.

The prime minister said: "I think we could get the balance better. I do think we should obviously take measures to protect our environment, to protect nature, of course I do, but I think that we could do it differently.

"So, one of the proposals … that we're working on is the question of whether that balance should be struck on each and every application or project – one by one, case by case – or whether it could better be lifted so that you could look at the balance over a wider area, which I think would make a lot more sense."

Starmer has previously highlighted a GBP100 million structure built as part of the HS2 project to protect bats as an example of the "absurd" planning system.

But he said developers should play their part in protecting nature.

He told MPs: "I think the developer should pay into a fund that could be used to get that balance right. So, I'm not saying they should be exempted from paying in.

"What I am saying is if you do it on a case-by-case basis you can get a lot of results which slow things down and don't seem, on the face of it, to make a lot of sense."

The prime minister listed those he viewed as "blockers", telling MPs they were "those that say we shouldn't have targets for housing, those that say we shouldn't build here, those that have stood in the way for years".

Asked if he was talking about planning committees, councillors or local residents' groups, Starmer said: "All of the above."

He told MPs he visited one housing estate that would take 25 years from the plans going in to the development being completed while a wind farm could take 13 years for a project that could be done in two years, because of planning wrangles going to court and the need to secure a grid connection.

"That's the blockers, and it's no wonder that we're not going to get anywhere unless we get that out of the way," he said.

[master rsi] 19/12/2024 22:42

MARKET REPORT
LONDON MARKET CLOSE: Stocks close lower after BoE maintains rate

(Alliance News) - Stock prices in London closed lower on Thursday, as the Bank of England kept its interest rates on hold, in line with Japan but at odds with the ECB and the Fed.

UK Prime Minister Keir Starmer pleaded for patience over his drive to improve living standards, warning it "will take some time" for people to feel the benefits.

Starmer hopes changes to planning rules, reforms to regulations and the use of technology and artificial intelligence could help boost sluggish economic growth.

But he told senior MPs on the Commons Liaison Committee that he would not repeat the mistakes of the Tory years and promise quick solutions.

Starmer said: "We've had a decade – slightly more – of stagnant growth or low growth and we've got to turn that around."

The budget was intended to "stabilise the economy" and create the conditions for investment, he said.

"We've obviously got to carry out reforms – to planning in particular, to regulation in particular – to drive the growth that we need."

The prime minister's appearance came on the day the Bank of England held interest rates at 4.75% and warned of "heightened uncertainty in the economy" following the UK Budget and US presidential election.

Interest rate calls on either side of the Atlantic dominated events with the Bank of England leaving rates unchanged, after a 'hawkish' cut by the US Federal Reserve on Wednesday.

The BoE's Monetary Policy Committee voted 6 to 3 for the status quo, opting not to follow the European Central Bank and US Federal Reserve in easing monetary policy.

The vote was more divided than expected with three MPC members, Swati Dhingra, Dave Ramsden and Alan Taylor, arguing for a further quarter point cut.

The BoE pointed to "progress in disinflation, particularly as previous external shocks have abated, although remaining domestic inflationary pressures are resolving more slowly."

"A gradual approach to removing monetary policy restraint remains appropriate," the BoE said.

"Monetary policy will need to continue to remain restrictive for sufficiently long until the risks to inflation returning sustainably to the 2% target in the medium term have dissipated further."

Berenberg senior economist Andrew Wishart commented: "Although a majority of six Monetary Policy Committee members voted to keep the Bank of England's bank rate on hold at 4.75% at their December meeting, the three who dissented by voting for a cut provided an unexpected dovish twist.

"Until now the MPC's focus has been squarely on inflationary pressure, which has surprised to the upside since the last meeting. The dissenters instead put most weight on sluggish demand and a weakening labour market, arguing that high interest rates could cause an 'unduly large output gap' to open up which puts too much downward pressure on inflation.

"A more dovish approach feels risky to us. Any positive impulse to demand would allow firms to pass on more of the large increase in labour costs they face to customers by raising prices, keeping inflation higher for longer. In our view, the BoE will only be able to cut twice next year before above-target inflation forces it to reassess."

The FTSE 100 index closed down 93.79 points, 1.1%, at 8,105.32. The FTSE 250 ended down 202.61 points, 1.0%, at 20,399.38, and the AIM All-Share closed down 1.1%, or 7.64 points, at 711.78.

The Cboe UK 100 ended down 1.2% at 812.46, the Cboe UK 250 closed down 1.1% at 17,910.84, and the Cboe Small Companies ended down 0.7% at 15,850.09.

In European equities on Thursday, the CAC 40 in Paris ended up 0.1%, while the DAX 40 in Frankfurt ended down 1.2%

The pound was quoted at USD1.2546 at the London equities close Thursday, down compared to USD1.2692 at the close on Wednesday.

The US was staring down the barrel of a holiday-period government shutdown Thursday as a late-hour intervention by Donald Trump and Elon Musk threatened efforts in Congress to keep the lights on through the New Year.

The money authorized by lawmakers to run federal agencies is set to expire Friday night, and party leaders had agreed on a stopgap bill – known as a "continuing resolution", or CR, – to keep operations functioning.

Debt hawks in the House of Representatives balked at what they considered an overstuffed package full of "pork" – spending that has nothing to do with the point of the bill – but it still looked like it might pass a floor vote.

Then Musk, the world's richest man and President-elect Trump's incoming "efficiency czar," bombarded his 208 million followers on X with posts trashing the text, many of them making false or misleading claims.

The euro stood at USD1.0384 at the European equities close Thursday, lower against USD1.0498 at the same time on Wednesday.

Against the yen, the dollar was trading at JPY157.77, higher compared to JPY153.57 late Wednesday.

Stocks in New York were higher at the London equities close, with the DJIA up 0.5%, the S&P 500 index up 0.6%, and the Nasdaq Composite up 0.8%.

In the FTSE 100 which is more exposed to the US, Pershing Square fell 3.8%, followed by Mondi, down 3.7%, and Ashtead Group and Marks & Spencer, both down 3.4%.

Meanwhile, water firms Severn Trent and United Utilities closed higher, up 1.4% and 1.2% respectively, while in the FTSE 250, Pennon climbed 0.4%

The gains followed news UK water regulator Ofwat will allow utilities in England and Wales to raise customer bills by an average of 36% by 2030, a larger increase than it earlier indicated.

Water companies are required to reach settlements with the regulator every five years covering bill increases, the amount they can invest and the returns their investors can make.

Serco advanced 8.4% after stating the outlook for 2025 is "positive", after an improved second half performance in 2024 led it to issue improved free cash flow and debt guidance.

For 2024, the Hampshire-based outsourcer expects revenue of GBP4.8 billion, in line with guidance, down 1.4% from GBP4.87 billion in 2023. It would represent an organic revenue decline of around 3%, Serco said.

The company noted an improving trend through the year with a second half organic revenue decline of 1% compared to the 5% drop seen in the first six months of 2024. This improvement was led by North America, Serco noted.

Free cash flow guidance was increased to GBP170 million from GBP150 million, while Serco now expects adjusted net debt to be GBP145 million, GBP20 million better than prior guidance.

Serco flagged a "much improved" order intake in the second half resulting in an expected book-to-bill for the full year of around 100%.

Costain perked up 0.9% after its joint venture with Siemens Mobility won an up to GBP300 million contract for HS2. A separate 7-year maintenance contract could be worth an extra GBP32 million, the firm said.

Brent oil was quoted at USD72.80 a barrel at the London equities close Thursday, down from USD74.01 late Wednesday.

Gold was quoted at USD2,591.10 an ounce at the London equities close Thursday, lower against USD2,637.13 at the close on Wednesday.

In the UK's corporate calendar, Carnival is set to release full year results at 1500 GMT.

The economic calendar for Friday has an interest rate decision in China at 0115 GMT, followed by UK retail sales and German producer price inflation data at 0700 GMT.

[master rsi] 19/12/2024 22:18

DOW

Finished just up by 15 points, after bing well up at the start of the day

[master rsi] 19/12/2024 22:01

How the UPS are performing during last month

[master rsi] 19/12/2024 19:09

How the UPS are performing today

[master rsi] 19/12/2024 11:04

Tech selloff on less dovish Fed a ‘buying opportunity,’ Wedbush says
A rout in technology stocks, following less dovish signals on rate cuts from the Federal Reserve, presents a buying opportunity, Wedbush analysts said, with artificial intelligence set to drive more gains in the coming year.

U.S. technology stocks fell sharply on Wednesday, headlining a rout on Wall Street after the Fed projected a much slower pace of interest rate cuts in the coming year. The sector was also rattled by profit-taking after a strong run-up over the past week.

The NASDAQ Composite slid 3.6%, its worst day since late-July.

Wedbush said this sell-off presented a “buying opportunity to own tech winners poised to play in a robust AI Revolution into 2025,” in a note released on Wednesday evening.

The brokerage noted that while the Fed and the prospect of trade tariffs under incoming President Donald Trump still heralded some “bumpy days,” the overall outlook for tech and risk-on assets still remained bullish.

Wedbush said its 2025 playbook remained the same, having recently forecast an at least 25% upside for tech stocks in 2025. Webdush also expects AI-related capital spending to surpass $2 trillion in the next three years.

The Trump administration is expected to roll out more AI initiatives that will benefit major players such as Microsoft Corporation (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc (NASDAQ:GOOGL).

Tech stocks such as Palantir Technologies Inc (NASDAQ:PLTR) are also expected to benefit from AI initiatives from the Department of Defense.

Wedbush said Japanese tech giant SoftBank's (TYO:9984) recent announcement of a $100 billion investment in the U.S. was “just the beginning” of more U.S.-centric initiatives to boost AI development.

The brokerage stated that a leadership change at the Federal Trade Commission was also likely to boost dealmaking activity in the coming years, especially for the technology sector.

Tesla remains biggest beneficiary of a Trump presidency
Wedbush reiterated that Tesla Inc (NASDAQ:TSLA) was poised to be the biggest beneficiary of the upcoming Trump administration, and expects faster regulatory approvals for Tesla’s full self-driving and autonomous ambitions.

“We believe a Trump White House helps unlock the $1 trillion of autonomous/AI value to Tesla's stock as autonomous/FSD is accelerated starting in 2025 and a key tailwind for Cybercab timing,” Wedbush analysts said.

Musk’s growing influence in the White House is expected to drive this trend.

[master rsi] 19/12/2024 10:30

LONDON BROKER RATINGS: Barclays rates TT Electronics 'overweight'

FTSE 100

Jefferies raises Intermediate Capital target to 2,700 (2,300) pence - 'buy'


SMALL CAP

Barclays cuts Alphawave IP price target to 150 (190) pence - 'overweight'

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Barclays reinitiates TT Electronics with 'overweight' - price target 170 pence

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RBC cuts Ashtead Technology price target to 780 (800) pence - 'outperform'

[master rsi] 19/12/2024 09:56

MARKET REPORT
LONDON MARKET OPEN: Stocks open down ahead of BoE rate decision

(Alliance News) - Stock prices in London opened in the red on Thursday morning, as investors prepare for the Bank of England's rate call and digest the US Federal Reserve's, with Chair Jerome Powell's "hawkish shift" proving a bitter pill to swallow.

The Fed announced another 25bp cut as expected, but hinted that that it will be slowing down next year in contrast with its "jumbo" 50bp cut in September.

"The market reaction was very aggressive, of course," said Swissquote's Ipek Ozkardeskaya, while interactive investor's Richard Hunter said participants were "blindsided".

He said: "The new number of rate cuts expected next year is now just two, from the previously guided four, with the central bank pointing to a new phase whereby cuts are less necessary given the strength of the underlying economy...As such, a reduction in January now appears to be off the table."

On the Bank of England, Ozkardeskaya commented: "The British policymakers are expected to maintain rates unchanged...A cautious stance from the BoE may slow down but not reverse the negative trend provided that the UK's economy – which performed surprisingly well this year – could feel the pinch of higher taxes before it enjoys the benefits of improved growth.

"The 'pain before gain' scenario could keep the sterling bulls on the sidelines."

Hunter said: "Despite any need for stimulus to the [UK] economy, inflationary pressures - such as strong wage growth which is likely to be exacerbated by the measures announced in the Budget - are likely to win the day, leading to a widely expected no-change decision as the bank errs on the side of caution for the time being.

"Ahead of the decision, UK markets followed the global lead and sagged helplessly at the open."

The FTSE 100 index opened down 78.46 points, 1.0%, at 8,120.65. The FTSE 250 was down 206.33 points, 1.0%, at 20,395.66, and the AIM All-Share was down 6.06 points, 0.8%, at 713.36.

The Cboe UK 100 was down 0.9% at 814.84, the Cboe UK 250 was down 0.9% at 17,937.30, and the Cboe Small Companies was down 0.1% at 15,950.37.

On the FTSE 100, United Utilities gained 1.6%.

Water regulator Ofwat announced that household water bills in England and Wales will increase by an average GBP31 a year over the next five years, significantly higher than the expected average rise of around GBP20.

However, PA reported, households will actually face a heavy average hike of GBP86 or 20% in the next year with smaller percentage increases in each of the next four years. The average bill will rise by a total of GBP157 or 36% over the next five years.

Serco jumped 5.1%.

The outsourcing firm expects to post full-year revenue of around GBP4.8 billion, down 3% on-year but in line with guidance, with underlying operating profit of around GBP270 million, up 9%.

Looking further ahead, Serco expects 2025 underlying operating profit of around GBP260 million, and for revenue to be in line with 2024 at around GBP4.8 billion despite a revenue cut of around 7% from losing immigration contracts in the UK and Australia.

In smaller caps, Intelligent Ultrasound surged 12%.

It has accepted a 13 pence per share cash takeover offer from Surgical Science Sweden AB, in a deal valuing the company at around GBP45.2 million.

Surgical Science said it "has closely monitored the developments at Intelligent Ultrasound for some time" and that IU selling its Clinical AI Business to GE HealthCare "presents a unique opportunity for both companies to join forces in a way that can significantly benefit both companies' long-term goals".

In European equities on Thursday, the CAC 40 in Paris was down 0.9%, while the DAX 40 in Frankfurt was down 0.8%.

The pound was quoted lower at USD1.2645 early on Thursday in London, compared to USD1.2692 at the equities close on Wednesday. The euro stood lower at USD1.0408, against USD1.0473. Against the yen, the dollar was trading higher at JPY156.88 compared to JPY154.03.

In Asia on Thursday, the Nikkei 225 index in Tokyo was down 0.7%. In China, the Shanghai Composite was down 0.4%, while the Hang Seng index in Hong Kong was down 0.5%. The S&P/ASX 200 in Sydney closed down 1.7%.

Hunter said the Bank of Japan's decision to keep its key interest rate unchanged "pointed to the 'high uncertainties' of the business outlook, especially with regard to commodity prices and indeed inflation generally".

In the US on Wednesday, Wall Street ended lower, with the Dow Jones Industrial Average down 2.6%, the S&P 500 down 3.0% and the Nasdaq Composite down 3.6%.

"Note that the Dow Jones has been diverging negatively from its tech-heavy peers since the beginning of the month - signalling a renewed concentration on tech stocks," Ozkardeskaya said. "But this time, even the rising stars of the tech couldn't swim against the tide...Altogether, the Magnificent 7 stocks gave back a hefty 4.40% after the Fed announcement.

"The Fed may have spoiled this year's Santa rally, as its hawkish shift could trigger a deeper correction across US equity markets - which have enjoyed two stellar years largely thanks to Big Tech...Non-tech sectors have been waiting for Fed rate cuts to claim their share of the pie. Unfortunately, the latest equity rally may fade before it extends to these overlooked corners of the market."

Brent oil was quoted lower at USD72.96 a barrel early in London on Thursday from USD74.01 late Wednesday.

"In energy, the Fed's hawkish shift dampened an early rebound in oil prices yesterday," Ozkardeskaya commented. "The Fed's cautious stance, coupled with a weak demand outlook and ample supply, lent further strength to the bears. We anticipate rangebound trading within the USD67–USD70 per barrel range."

Gold was quoted lower at USD2,618.20 an ounce against USD2,637.13.

Still to come on Thursday's economic calendar, there are several data releases from the US including initial jobless claims, GDP and quarterly personal consumption expenditures.

[master rsi] 19/12/2024 09:10

Time Finance H1 profits surge as lending book hits fresh record

(Sharecast News) - Specialist finance provider Time Finance said on Thursday that both revenue and profits had grown in the six months ended 30 November as the group continued to increase the size of its lending book.

Time Finance said revenues were up 16% at £18.2m, while pre-tax profits were 44% higher at £3.9m. Pre-tax margins improved by 4% to 21%.

The AIM-listed group stated its gross lending book had grown 11% to a record £209.4m, with net arrears remaining and net bad debt write-offs both remaining stable at 5% and 1% of its gross lending book value, respectively.

Time Finance added that it had continued to see "positive trading momentum" and that its FY performance would be at least in line with recently upgraded market guidance.

Chief executive Ed Rimmer said: "In line with our strategy, we have continued to increase the size of our lending book and, crucially, have done so without compromising on credit quality. This is borne out by the stable nature of both our arrears and our write-offs. This approach, combined with a renewed focus on margins, has led to significant increases in both revenues and profitability, both of which are record figures for the first half of a financial year.

"We have real confidence that the group is well placed to continue on this growth trajectory, building long-term value for our shareholders, and I look forward to updating our shareholders on our future strategy through to May 2028 in Q1 of 2025."

As of 0900 GMT, Time Finance shares were down 2.17% at 58.70p.

[master rsi] 19/12/2024 08:38

Thames Water fined over dividends but granted 35% bill hike by 2030
(Alliance News) - Thames Water is to be allowed to hike consumer bills by 35% by 2030 following a decision by the industry regulator, as it was also handed an GBP18.2 million fine for paying "unjustified" dividends to shareholders.

The average annual bill will rise to GBP588 by 2030, Ofwat said, up from current levels of GBP436.

The ruling falls well short of the 59% Thames Water had said it needed in the run-up to the decision, as the embattled water company tries to negotiate a bailout.

The company, which serves about 16 million people in London and the South East, is in the grip of a funding crisis and needs a GBP3 billion loan from creditors to keep operating beyond March.

Ofwat said the GBP18.2 million fine was for paying GBP158.3 million in dividends to shareholders which it said were not justified.

The regulator said it will claw back GBP131.3 million of the payments so it does not come out of customer bills.

Ofwat chief executive David Black said the penalty was "a clear warning to the whole sector".

He added: "We will take action against companies who take money out of these businesses, where performance does not merit it."

Thames Water is in more than GBP16 billion-worth of debt, and earlier this week held the first of several high court hearings over its proposed GBP3 billion bailout.

The cluster of investment firms that drew up the deal – including BlackRock Inc, abrdn PLC and M&G PLC – have said they need a sizeable increase in bills to make it happen.

It is unclear whether the 35% bills hike will be deemed enough for the bailout to go through, after the investors had also been in talks with Ofwat in recent weeks.

However, Thames Water will have the option to refer Ofwat's decision to the Competition & Markets Authority.

That would kick off a fresh process which could see consumers wait months more to find out how much they will have to pay over the coming years.

[master rsi] 19/12/2024 08:23

FTSE

Well down from the start with 92 points as expected after the large drop yesterday plus today going X-dividend

[master rsi] 18/12/2024 22:18

EEE 6.25p -0.15p

After the sharp drop this morning, the typical bounce back after moving into oversold.