Utilities Stocks Off Slightly - Utilities Roundup
Shares of power-plant operators fell, but not by as much as the broad market, as traders rotated into defensive, less economically sensitive areas. The utility sector has also benefited from the sense that the Federal Reserve's minutes had slightly reduced the likelihood of a rate hike in December, as interpreted by analysts at brokerage Nomura Securities and elsewhere. Hedge fund Elliott Management continued its fight with Warren Buffett's Berkshire Hathaway by purchasing sufficient debt to block Berkshire's deal to buy power-transmission business Oncor, The Wall Street Journal reported. But Berkshire would not be drawn and is likely to leave its bid unchanged, The Journal reported.
-Rob Curran, email@example.com
(END) Dow Jones Newswires
August 17, 2017 16:44 ET (20:44 GMT)