Pennon Share News (PNN)

Ofwat set to refuse water companies' price increases; shares hit

(Sharecast News) - UK water companies were under pressure on Tuesday following a report that Ofwat was set to refuse most companies' requests to hike consumer bills, with some getting as little as half of what they have asked for.

LONDON MARKET CLOSE: FTSE 100 stumbles as rain dampens retail sales

(Alliance News) - Stock prices in London closed mixed on Friday, with the FTSE 100 finishing lower, but smaller indices ending in the green.

TOP NEWS: Ofwat delays price plans reveal until after UK election

(Alliance News) - The water regulator Ofwat on Friday said the publication of the consultation on its draft price control determinations for the water sector will be delayed until after the upcoming UK general election.

London close: Stocks slip on UK election, US jobless claims

(Sharecast News) - London stocks ended lower on Thursday, mirroring Wall Street's decline as jobless claims in the US fell more than anticipated.

FTSE 250 movers: Drax and Pennon hit by political risk

(Sharecast News) - Drax Group was struggling at the bottom of the pile on a down day for the second-tier index.

British utilities stocks fall sharply as election looms

May 23 (Reuters) - UK utilities led fallers in early London trading on Thursday after Prime Minister Rishi Sunak called a surprise election in July the previous day, raising concerns over political risk in the sector.

London close: Stocks fall ahead of key inflation reading

(Sharecast News) - London stocks ended in negative territory on Tuesday, influenced by the latest UK economic outlook from the International Monetary Fund (IMF) and comments from US Federal Reserve officials.

TOP NEWS: Pennon reports widened loss; CMA opens consultations

(Alliance News) - Pennon Group PLC on Tuesday reported an increased loss but a higher dividend, as the UK Competition & Markets Authority opened public consultations relating to the firm's takeover of Sutton & East Surrey Water.

UK earnings, trading statements calendar - next 7 days

IN BRIEF: UK CMA may clear Pennon acquisition of Sutton & East Surrey

Pennon Group PLC - Exeter, England-based water utility - The UK Competition & Markets Authority sees "reasonable grounds" to clear Pennon's acquisition of Sutton & East Surrey Group Holdings Ltd, formerly named Sumisho Osaka Gas Water UK Ltd. Pennon agreed to the deal, which has an enterprise value of GBP380 million including debt, in January. The CMA launched a phase 1 merger inquiry into the deal in March and earlier this month said the deal could face a deeper investigation should "acceptable" undertakings not be made by Pennon. On Tuesday, the competition regulator says Pennon has offered to provide reporting for Sutton & East Surrey Water separate from the rest of Pennon. This could address the CMA's concern that the merger will harm water regulator Ofwat's ability to make comparisons between water utilities. The CMA now has until July 16 to decide whether or not to accept Pennon's undertakings.

CMA mulling over Pennon-SES deal

(Sharecast News) - Watchdog the Competition and Markets Authority said on Tuesday that it may accept Pennon Group's solutions to address concerns regarding the water utility outfit's purchase of Sutton and East Surrey Water, potentially clearing a path for the deal to go through.

LONDON BROKER RATINGS: AstraZeneca target raised; Antofagasta lowered

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Friday:

UK watchdog raises concerns over Pennon-SES water deal

May 3 (Reuters) - British water company Pennon faces in-depth regulatory investigation of its purchase of rival Sutton and East Surrey (SES) Water unless it can address concerns raised by the competition watchdog.

Pennon seeks to allay CMA's concerns over South West Water acquisition

(Alliance News) - The UK's competition watchdog on Friday warned Pennon Group PLC that its planned acquisition of Sumisho Osaka Gas Water UK Ltd could face a deeper investigation should "acceptable" undertakings not be made.

LONDON BROKER RATINGS: Jefferies cuts AJ Bell; Deutsche likes ConvaTec

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday: