We're seeing consolidation today. As long as there aren't any new M&A deals announced, people are locking in profits.
As long as interest rates don't rise, that's good for utility stocks, which have a lot of debt. Their borrowing costs won't rise. This means analysts won't change their opinions and forecasts on them.
These numbers put pressure on interest rates. There are worries about more increases.
The European economy is recovering. There's more potential for European stocks than U.K. stocks.