Utilities Down as Treasury Yields Rise -- Utilities Roundup

Shares of power producers fell as Treasury yields rose.

Treasury yields initially fell, stirring gains in utilities, after reports of chaos in Syria. Hopes that the overthrow of Bashar al-Assad would not lead to broader violence allowed Treasury markets to settle, however.

BP will merge its offshore wind-energy business with that of Japanese power-utility JERA to create a combined standalone company, in line with the British energy company's strategy to focus on its more profitable oil-and-gas operations. The equally-owned company, to be called JERA Nex BP, will have 13 gigawatt of potential net generating capacity.

Chris Wright, President-elect Donald Trump's nominee for energy secretary, says that climate change poses only a modest threat to humanity.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

12-09-24 1746ET