RPT-GRAPHIC-Green deal sprinkles stardust on European power stocks [Reuters]
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Source: Reuters
RPT-GRAPHIC-Green deal sprinkles stardust on European power stocks (Repeats item that ran on Friday, with no changes) * Utilities gain over 20% since EU unveiled green deal * ESG investing, low bond yields also boost sector * Funds overweight utilities climb to 5-year high - Barclays By Danilo Masoni and Thyagaraju Adinarayan MILAN/LONDON, Feb 20 (Reuters) - Who said utilities shares were dull? In the past year European power company stocks have triggered a buying frenzy more akin to headline-grabbing U.S. tech giants following the continent’s “green deal”. An EU target to cut carbon emissions to zero by 2050 and expectations of an associated spending boom have fired up shares in electricity firms, providing by far the biggest boost to stock market gains in Europe this year. The pan-European utilities index has gained over 20%since the European Union launched its ambitious green deal in December, dwarfing the 6% rise in the broader equity benchmark . And the sector that is often dismi
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