Renewable energy stocks rally after Paris climate deal

Author: Sudip Kar-Gupta & Annabella Nielsen, Reuters (USA), Published on: 14 December 2015

European renewable energy stocks rallied on Monday following an agreement over the weekend at the Paris global climate summit to find ways to stop global warming. Goldman Sachs' analysts described the deal in Paris as the most important climate agreement since the 1997 Kyoto Protocol, adding it would boost the world's low carbon-emissions economy, which it estimated as a fast-growing $600 billion-plus market…Shares in wind turbine makers Vestas Wind, Nordex and Gamesa also rose by between 2-5 percent…Andrea Williams, European equities fund manager at Royal London Asset Management, said…the Paris climate deal might lead her to start considering buying up those companies…However, others cautioned against rushing in to buy such stocks, noting that the Paris agreement was not a legally binding treaty. Some critics added that the United States…might back away from…agreement if the Republican Party won next year's U.S. presidential election, given general scepticism…over such matters…[Also refers to Barclays, Enel, and Novozymes.]

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Related companies: Barclays Enel Gamesa Goldman Sachs Novozymes Vestas Wind Systems