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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Financial Services

Water provider Pennon reports on Tuesday amid SVB fallout

Statements from water utility Pennon recently have been poles apart from the mood in the country where sewage dumping by all of the companies in the sector is a topic of increasing anger.

Southwest-focused Pennon has been repeatedly singled out given that most of the UK's best beaches (in Devon and Cornwall) lie within its patch.

Recent news that the water companies in England and Wales will this year impose their largest bill increases in close to two decades is unlikely to help the mood though the price hikes will be well below inflation.

Bills will go up an average of 7.5% to £448 a year from April, according to Water UK, with higher energy costs one reason for the price increase.

Any change in dividend policy (unlikely) will be investors' main focus.

US core inflation meanwhile will dominate market thinking especially after Fed Chair Jerome Powell’s hawkish comments this week.

Consensus forecasts are for an unchanged read of 5.6% or at best a slight dip to 5.5%.

Major announcements due

Finals: Genuit Group PLC (LSE:GEN), Gresham Technologies plc (LSE:GHT), Harworth Group PLC, Midwich Group PLC (AIM:MIDW), YU Group PLC

Interims: Aptamer Group PLC (AIM:APTA), Close Brothers Group PLC (LSE:CBG), Eagle Eye Solutions Group PLC (AIM:EYE), Litigation Capital Management Limited, Pci-Pal PLC, Virgin Wines UK PLC (AIM:VINO)

Trading updates: Pennon Group PLC (LSE:PNN, OTC:PEGRY), TP ICAP Group

AGMs: MTI Wireless Edge PLC, RedX Pharma PLC

Economic announcements: Claimant Count Rate (UK), Unemployment Rate (UK), Consumer Price Index (US)

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