Utilities Up as U.S. Paris-Deal Pullout Seen Helping Some - Utilities Roundup

Shares of power-plant operators rose as traders bet the Trump administration's decision to withdraw from the Paris climate accord would benefit the sector.

Corporate leaders from sectors ranging from oil and gas to retail, agriculture, finance and technology lobbied Mr. Trump not to scrap the agreement. But a camp led by strategist Stephen Bannon prevailed on Mr. Trump to keep his campaign promise.

Independent financial think tank Carbon Tracker said the move wouldn't stop the transition to low carbon-emissions economies globally. "It is now a question of when we will achieve the transition, not if. China and India are already on track to meet or even surpass their climate pledges," the think tank said.

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

(END) Dow Jones Newswires

June 01, 2017 16:42 ET (20:42 GMT)