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Investors in US seem to ignore ‘Big Oil’ climate perils | Financial

ExxonMobil closed the session with a gain of 1.2 percent. An activist green investor with a tiny interest in the group managed to secure two board seats. This means that the call to do something against climate change is also penetrating the company that is still known as unlearned when it comes to climate measures.

Chevron (plus 0.2 percent) must also make more efforts to combat CO2 emissions. A resolution of the activist investor Follow This was passed at the shareholders’ meeting. It is yet another sign that oil companies are coming under increasing pressure to tackle environmental problems. Earlier in the day, a Dutch court ruled that Shell must drastically reduce the CO2 emissions it causes.

Climate perils do not or hardly cause oil prices to move. A barrel of American oil became 0.2 percent more expensive at $ 66.17. Brent oil rose 0.3 percent in price to $ 68.82 a barrel.

Car manufacturer Ford closed the session with a profit of almost 9 percent. The group announced that it would invest more money in the development of electric driving. Until 2025, this will amount to a total of $ 30 billion.

Competitor Tesla (plus 2.4 percent) was in the news for possible sabotage at the company’s new factory in Berlin. Electricity cables were set on fire there and a radical left group claims to have done so. The group says electric cars are not environmentally friendly and therefore compete against Tesla.

Tech group Amazon (plus 0.2 percent) caused nervousness among investors in pharmacists such as CVS Health, Rite Aid and Walgreens Boots Alliance, which lost up to 4 percent in value. Amazon announced its intention to open brick pharmacy stores. In addition, Amazon announced that it will acquire MGM film studio for $ 8.5 billion.

The Dow Jones index gained a fraction to 34,323.05 points. The broad-based S&P 500 rose 0.2 percent to 4195.99 points and tech exchange Nasdaq was up 0.6 percent to 13,738.00 points.

Investors in US seem to ignore ‘Big Oil’ climate perils | Financial
Source link Investors in US seem to ignore ‘Big Oil’ climate perils | Financial

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