British utilities sector rises day after Burnham speech, JPM says investment thesis still intact

United Utilities

30/09/2026 09:34

** British utilities sector .FTUB6510 rises 2.8% in its biggest daily jump since May, a day after UK PM Andy Burnham makes various policy announcements for sector
** "We remain positive on the outlook for UK Utilities," JPM says after Burnham's announcements
** Electricity companies SSE  SSE.L and National Grid NG.L up 2.8% and 2.9%, respectively
** "We do not see the announcement of GB Grid, a new, publicly owned networks company, as a significant threat to the growth and value creation targets of the electricity network companies," JPM says 
** Water companies Pennon  PNN.L, Severn Trent SVT.L and United Utilities UU.L up between 2.1% and 5.1%
** "We remain Neutral on the water names while we await visibility on sector reforms in the coming quarters, although on a relative basis we see a more attractive risk/reward in Pennon," JPM adds 

(Reporting by Samuel Indyk)
((Samuel.Indyk@thomsonreuters.com))