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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UTILITIES
- Utility spreads had a firm week (-4bp) with several names strongly reversing recent weakness (see chart). Origin Energy (+5bp) was an underperformer following earnings.
- Earnings didn’t really move the needle; Orstedcontinues its path to targeted better credit metrics although its decision to halt its e-methanol project raises doubts for green gases’ development prospects https://marketnews.com/utilities-orsted-orsted-baa1-n-bbb-bbb-2q24-results. Fortum earnings were solid with leverage still very low https://marketnews.com/utilities-fortum-fumvfh-baa2-bbb-bbb-2q24-results.
- RWE and E.ON results were largely credit neutral, confirming normalisation of energy prices since last year.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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