Shares of power producers rose but not by as much as the broader market as traders rotated into more economically sensitive sectors.
United Utilities Group, a provider of water and wastewater services in the North West of England, reported a lower pretax profit for the year ended March 31, reflecting higher finance charges.
A standard-setter in carbon offsets is clamping down on cryptocurrency projects in the sector, saying they add confusion to the fast-growing market that companies tap to compensate for their emissions. Verra, a nonprofit organization that runs a registry of carbon credits, said on Wednesday it would no longer allow credits to be retired from its database to create new crypto tokens. The move, which Verra said takes effect immediately, would restrict the ability of crypto project developers to piggyback on the rapid growth of the voluntary carbon market.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
05-26-22 1754ET
