What to watch. ABB plans to demerge power grid business

Shares of ABB will remain in focus, as its board of directors on Wednesday granted in-principle approval for the segregation of the company’s power grids business from the company’s other businesses. Having discussed various options for structuring such segregation, the board determined that a Court-approved demerger is the preferred option, it said in a statement to the exchanges. The board will consider the detailed proposal before making a final decision.