New Zealand shares rose on Monday as heavyweight electricity companies clocked strong gains, with investors awaiting the Federal Reserve meeting due later in the week for clues on U.S. monetary policy.
AGL Energy (ASX:AGL) share price hits 52-week low fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
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ASX renewable energy shares have been a much-discussed area of interest over the past few months (and years, to be fair). After all, 2020 was a pretty good year for the sector. On top of that, interest has picked up in recent weeks on the back of significant talk of a renewables-focused infrastructure package over in the United States. Such a package has indeed been proposed by the Biden administration, although we will have to see how it looks if it ever gets out of a closely divided US congress.
So, how have ASX renewables shares been tracking recently?
Australia shares unchanged as miners, energy stocks offset gains in banks reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Why the Mercury (ASX:MCY) share price is on watch
Ken Hall | April 21, 2021 8:42am |
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Mercury NZ Ltd (ASX: MCY) share price is one share worth watching in early trade. It comes as the Kiwi electricity generator and retailer provided its latest quarterly update to the market.
Why is the Mercury share price on watch?
Mercury this morning provided its quarterly update for the period ended 31 March 2021 (Q3 2021). The company highlighted persistent dry conditions and price uplifts as key factors in the latest numbers.
Mercury’s hydro generation increased by 8.5% over Q3 2020 figures to 910 gigawatt hours (GWh) despite Waikato catchment inflows being 168GWh below average. Those higher production numbers came as the company responded to higher spot prices in the market. Notably, Mercury’s hydro generation forecast remains unchanged at 3,800GWh for the full year.