SSE PLC

SSE: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 8,673.00	Zqmzg	Xnvsxysj

European Utilities Rallied in Q3 on Falling Interest Rates; We See Further Upside Potential

Tancrede Fulop

Sep 17, 2024

While wholesale power prices stabilized, government bonds’ yields fell on weak economic indicators and lower inflation in the US and Europe. Second-quarter results were boosted by very favorable hydro conditions that led to some guidance upgrades. This goldilocks scenario bolstered a rally in European utilities, enabling them to massively outperform the market and recover much of their earlier underperformance.

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