Shares of power producers ticked up as traders rotated into defensive sectors in light of a bumpy start to the year for equities and rate expectations.

Spanish utility Iberdrola's U.S. renewables subsidiary Avangrid ended a merger agreement with power company PNM Resources after rejecting a bid to extend the deadline of the $4.3 billion deal reached in October 2020.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-03-24 1742ET