London, Feb 24, 2026, 09:38 GMT — Regular session
SSE PLC (SSE.L) climbed 1.7% to 2,623.2 pence as of 0938 GMT on Tuesday, reacting to news that the UK utility plans to redeem £600 million in capital securities. Shares moved within a 2,591 to 2,638 pence band, up from Monday’s close at 2,580 pence. The stock now sits just shy of its 52-week peak at 2,667 pence. (Investing.com)
This shift is notable: “capital securities” blend debt and equity traits, giving utilities room to fund big projects without maxing out on traditional loans. Calling these instruments might seem straightforward, but it can throw fresh questions at utilities’ financing plans, especially now, with rates still holding sway.
European shares edged lower Tuesday morning, with the STOXX 600 down 0.2% at 0815 GMT, Reuters said. Worries over trade flows and ongoing arguments about AI-driven upheaval weighed on sentiment. (Reuters)
SSE plans to redeem the £600 million securities in full on April 14, the company said in a notice, promising payment of both principal and any unpaid, accrued interest. Once settlement wraps up, the listing will come off the UK financial regulator’s official list, and trading on the London Stock Exchange will also be cancelled. (Investegate)
National Grid gained 0.99% to 1,373.00 pence. Other UK utilities were stronger as well. Sector prices often track shifts in bond yields, given their heavy exposure to long-term cash flows. (Investing.com)
SSE has ramped up spending on networks and renewables, cautioning earlier this month that earnings are set to slip. The company is now projecting adjusted earnings per share between 144 and 152 pence for the year ending March 2026—lower than last year’s 160.9 pence. “Our focus has been on accelerating investment,” Chief Financial Officer Barry O’Regan said at the time in a statement. (Reuters)
Even so, redeeming hybrids bumps up immediate funding demands if the company goes for refinancing, and with markets edgy over rates and growth, nerves are on edge. Should returns dip on regulated assets or major projects get pushed back, defensive names could face a tougher crowd.
SSE is set to report preliminary results for the year ended March 31 on May 28, according to its financial calendar. The company also noted it will enter a closed period on April 2. (sse.com)
