How to Lose a Third of Your Market Value in One Week: Chart

Slumping European power prices found another victim, forcing Swiss utility Alpiq to cut its dividend, suspend interest payments on some loans and put 49 percent of its hydroelectric plants up for sale. The earnings announcement on March 7 triggered the company’s biggest weekly decline since at least 1989. “The drastic measure to partially sell the hydro plants, the heart of Alpiq, has upset investors,” Sven Bucher, head of research at Zuercher Kantonalbank, said by phone.

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