The GLIO Index of infrastructure companies was back on track in July, up 1.7 percent. Year-to-date the GLIO Index is up 8.2 percent.

Electric (3.6 percent), Gas (1.8 percent) and Water (9.4 percent) utilities all finished the month well ahead. Communications infrastructure (2.7 percent), Renewables (2.5 percent) and Airports (2.3 percent) also finished July on positive ground. Transportation companies fell (–1.1 percent) on average, driven down by declines in railroads (–0.7 percent), toll-roads (–1.2 percent), passenger rail (–5.8 percent) and marine ports (–5.2 percent).

Canadian National (CN) and Canadian Pacific (CPR) intensified the race for Kansas City Southern (KCS) in August. At the time of writing CPR’s offer valued KCS at $31 billion, which was less than CN’s proposal valued at $33.6 billion.

Sydney Airport jumped 35 percent in July following a unsolicited A$22.3 billion ($16.1 billion) bid by IFM Investors. The Board issued a statement o