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(Bloomberg) The global energy crisis is intensifying, hammering the shares of companies that consume a lot of power and sending the stocks of those that produce it soaring. Economic recovery from the pandemic has boosted demand for gas and coal but their supplies have not been able to keep up. With the northern hemisphere winter on the horizon and China the world’s biggest electricity user ordering state-owned energy firms to secure supplies at all costs, investors are in a race to pick the winners and losers. A key measure of international energy producers, led by names including Cabot Oil & Gas Corp. and ConocoPhillips, has rallied almost 10% over the past month. Utilities stocks have gone into reverse, wiping out this year’s gains, with materials companies joining them among the biggest laggards on the MSCI World Index. “The energy crisis can exist for the next several years. I think a super cycle in energy has started and will continue for several years,” said Sumeet ....
Publishing date: Feb 27, 2021 • February 27, 2021 • 4 minute read • Article content (Bloomberg) With Europe’s results season wrapping up, the main takeaway has been not the broadest earnings beat in about 14 years, but rather a dearth of guidance from many companies on a still uncertain future. Only about 55% of firms reporting over the past six weeks have offered some form of guidance, according to Bloomberg Intelligence data, reflecting low visibility over when and how quickly economies will rebound after the roll-out of Covid-19 vaccines. Those giving no outlook saw an average share-price drop of 1.6% on the day of their results versus the Stoxx 600 Index, the data show. ....
High Bar for European Profit Rebound Leaves No Room for Setbacks Bloomberg 1/17/2021 Joe Easton (Bloomberg) Europe is kicking off the year’s first earnings season with expectations running high after a strong equity rally, setting the stage for disappointment if companies signal further pandemic pain. With luxury brand Burberry Group Plc, chip equipment maker ASML Holding NV and miner Rio Tinto Group among some 30 companies in the Stoxx Europe 600 Index posting earnings or sales updates in the next week, investors are seeking reassurance about a recovery beyond the lockdowns currently weighing on sentiment. Analysts predict a strong profit rebound this year, following last year’s sharp slump triggered by the impact of Covid-19. ....