Utilities Down as Traders Retreat From Defensive Sectors -- Utilities Roundup

Shares of power-plant operators declined as traders retreated from defensive sectors. President Donald Trump's withdrawal from the Paris Climate Accord may not affect utility operator's decisions as much as markets had anticipated, according to one analyst. "People are thinking [utility companies] are now gonna go out and build a bunch of coal-fired power plants, but I think the chances of that are zero," said Dan Steffens, of consulting firm Energy Prospectus Group, as reported earlier. Utilities are reluctant to invest in coal because "what if a new administration comes in and reverses all that?"

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 05, 2017 16:42 ET (20:42 GMT)