London, Feb 17, 2026, 08:24 GMT — Regular session
- National Grid shares climbed at the open in London, following rate expectations ahead of upcoming UK data.
- UK jobs data lands Feb. 17, with inflation set for Feb. 18; traders are looking to both for signals on Bank of England rate cuts.
- National Grid will report its full-year results on May 14.
Shares of National Grid (NG.L) edged 0.5% higher to 1,380 pence by 0810 GMT, hovering near recent peaks as investors favored rate-sensitive names.
This shift matters for utilities, which sometimes behave like bond proxies. They tend to climb as bond yields drop. UK data out this week could quickly redraw the interest-rate outlook.
UK labour market numbers drop later on Feb. 17, with inflation data set for Feb. 18—key releases for traders watching whether the Bank of England might soon lower borrowing costs. “We are going to keep an eye on the UK data this week,” said Mohamad Al-Saraf, FX and fixed income associate at Danske Bank. Reuters
Heading into Tuesday, traders already had their eyes on possible rate cuts. The FTSE 100 closed 0.26% higher on Monday, with markets leaning toward a quarter-point cut next month, as labor market and broader economic pressures started to show.
Shares of National Grid finished Monday at 1,373 pence, Yahoo Finance data show.
No new company statement came out in the past day, so the stock drifted, mostly following moves in rates, sterling, and general risk sentiment.
Gilts factored in too. The UK’s 10-year yield slipped to 4.40% on Feb. 16—a move that tilts things, if only slightly, toward stocks with bigger dividends.
Policy chatter has resurfaced. UK grid maintenance and upgrade hold-ups have come under the microscope lately, after Ofgem pointed out delayed delivery from key network players like National Grid.
The bond-proxy narrative isn’t a one-way street. Unexpectedly strong inflation or wage data would probably send yields climbing, fuel more “higher for longer” chatter at the BoE, and squeeze utilities that have traded on hopes of looser policy.
National Grid’s 2025/26 full-year numbers are coming up on May 14, with dividend dates following later in May and the AGM slated for July. Investors have that date marked.
