Shares of power producers fell but not by as much as the broader market amid a rush out of assets perceived as riskier and toward relatively safe ones.
The U.K. government is considering measures to soften the fallout from a sharp increase in energy prices that has put power suppliers to consumers out of business and stoked problems for a range of industries from steel to brewing and fertilizers.
Steps under consideration include state-backed loans to utilities and subsidies for fertilizer producers, as shortages of natural gas and electricity weigh on a range of industries.
Australian power distributor AusNet Services said it intends to recommend shareholders accept a takeover proposal from Brookfield Asset Management that values its equity at 9.58 billion Australian dollars (US$6.96 billion). Brookfield had raised its offer to A$2.50 per share in cash after making two earlier approaches worth A$2.35-a-share and A$2.45-a-share.
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(END) Dow Jones Newswires