Utilities Up As Income-Seeking Investors Rotate Out Of Treasurys -- Utilities Roundup

Shares of power producers rose as income-seeking investors sought out the sector in light of depressed Treasury yields.

EDP-Energias de Portugal said it expects to shut down its coal power plants in the Iberia region that includes Spain and Portugal, as power producers worldwide retreat from coal. The Portuguese energy company said the process is estimated to represent an extraordinary cost of around EUR100 million ($113.4 million) that will be booked in 2020.

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