London, Feb 7, 2026, 08:22 GMT — The market is closed.
- SSE ended Friday at 2,510p, gaining 1.2%.
- UK rate-cut bets are shifting as investors digest the Bank of England’s divided call.
- The market’s looking toward two things now: the upcoming UK GDP numbers and SSE’s April trading update—both seen as the next clear catalysts.
SSE (SSE.L) wrapped up Friday’s session with a 1.2% gain, closing at 2,510 pence just before London markets go back online Monday. Shares moved within a range of 2,465p to 2,526p and roughly 6.6 million shares changed hands, according to price data. StockAnalysis
Here’s why this matters: utilities have reverted to acting like bond proxies again. If expectations for the Bank Rate change, the sector tends to react fast. Investors typically price those cash flows off gilt yields — basically, what UK government bonds return.
Sensitivity ticked higher this week, following a Bank of England survey indicating investors see the main rate falling to 3.0% by March 2027—down from the current 3.75%. Markets are almost fully pricing in two additional quarter-point cuts for 2026. Reuters
UK stocks found firmer footing heading into the weekend. The FTSE 100 advanced 0.6% on Friday, securing a second consecutive weekly rise. Big banks provided a lift, with the shifting rate landscape no longer all pointing in one direction. Reuters
SSE’s transmission division landed over £6.9 million from the Strategic Innovation Fund, a scheme by Ofgem in partnership with Innovate UK, to back four projects targeting network efficiency and renewable integration. According to SSE, National Grid Electricity Transmission is signed on as a partner for one of the initiatives. SSE
SSE this week reaffirmed its 2025/26 adjusted earnings per share target, keeping it in the 144 to 152 pence range. The company also flagged a 64% surge in networks investment, taking the figure to roughly £1.8 billion, and reported renewables output climbed 7% over the nine months through Dec. 31. SSE
CFO Barry O’Regan didn’t mince words: “our focus has been on accelerating investment and delivering the plan that will create compounding, long-term earnings and value for investors,” he said in a statement. Reuters pointed out that SSE, along with Germany’s RWE, came out as top beneficiaries in Britain’s most recent offshore wind auction. Reuters
Rates are still calling the shots, and the BoE isn’t exactly letting its guard down. Chief economist Huw Pill cautioned investors against reading too much into a temporary inflation drop, chalking it up to “one-off factors.” “Although we are getting closer, that disinflation process is still not complete,” Pill said. Reuters
SSE doesn’t fit neatly into the “rates down, stock up” narrative. Hargreaves Lansdown’s Aarin Chiekrie pointed out that the renewables push brings “a hefty dose of risk”—output’s tied to the weather, after all. On top of that, if volatility stays low, earnings from flexible thermal and gas storage might end up muted this year. Hargreaves Lansdown
This week, UK numbers could stir the gilt and pound trade, with possible spillover for utilities. The Office for National Statistics is set to release its initial read on Q4 GDP, plus monthly GDP, trade, and production figures, on Feb. 12. Office for National Statistics
SSE’s financial calendar shows the next key dates: April 2 brings a “notification of closed period” update, that’s their regular trading statement before results. Preliminary full-year numbers land on May 28. SSE
