Utilities Fall on Rate Concerns -- Utilities Roundup

FeaturesDow Jones Newswires

Shares of utilities fell as investors bet the sector would feel more pressure from rising interest rates.

President Donald Trump won't make a decision on whether to withdraw from the Paris Agreement on climate change until after he meets with Group of Seven leaders later this month. The decision would have a profound effect on power-plant emissions standards and on U.S. diplomatic relationships. European officials are warning that a U.S. pullout would derail the global agreement.

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Toshiba's business partner, Southern Co., is preparing for a scenario in which the company seeks to reorganize under Japanese bankruptcy laws after it raised doubt about its ability to continue as a going concern. Southern Co., which hired Westinghouse to build two nuclear reactors in Georgia, is concerned that Toshiba will apply for protection from creditors and relieve itself of the guarantees made on Westinghouse's behalf, The Wall Street Journal reported.

-By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 09, 2017 17:30 ET (21:30 GMT)