Down today (ex big div) but severn trent seem to have an almost perfect large inverse H&S beginning in mid Jul and completing last week. 680ish is going to be an interesting level either way.

JP Morgan Cazenove today upgrades its investment rating on Severn Trent PLC (LON:SVT) to overweight (from neutral).

StockMarketWire.com
Water company Severn Trent reported a slight fall in annual profit after higher costs offset a rise in revenue.

Profit before interest and tax declined by 1.5% to £528.4m, despite revenue rising 3.4% to £1.69bn.

On an underlying basis, profit before interest and tax rose 4% to £541m.

The company declared a dividend of 51.92p, taking the 2017/18 dividend to 86.55p.

StockMarketWire.com
Water and waste utility Severn Trent said it had made a 'good' start to the year, with no material change to its outlook since it delivered its full-year results in May.

'The board continues to expect that the group will deliver full-year trading performance in-line with its expectations and prior guidance,' the company said.

Severn Trent said it was on track with a £100m reinvestment announced in May as it prepared for the UK's new regulator investment framework, known as AMP7.

'Our business plan for AMP7 is progressing well and we are confident we can present a plan this coming September which balances the needs of all of our stakeholders for the next regulatory period,' the company said.

'We remain supportive of Ofwat's approach and welcomed the recent decisions on the 'Putting the sector back in balance' consultation.'