Globe & Mail 2022-03-01 09:21 ET - In the News
The Globe and Mail reports in its Tuesday edition that widespread concern over energy security after Russia's invasion of Ukraine is turning investor interest toward the energy sector -- but the best-performing stocks are not the obvious ones associated with traditional oil and gas producers. The Globe's David Berman writes that instead, stocks tied to wind, solar and hydro energy are leading the way, and the gains could mark the start of a sustained comeback for the beaten-up renewable-energy sector. "The sun shines on all countries, the wind blows on all countries -- so they can get much more sovereign security around that," said John Bai, chief investment officer at sustainable investing firm NEI Investments. On Monday, the iShares Global Clean Energy ETF, an exchangetraded fund that tracks the performance of 76 stocks, including Vestas Wind Systems A/S, SolarEdge Technologies Inc. and Orsted A/S, rallied 6.5 per cent in New York, adding to Friday's gains. The rally included a number of Canadian stocks. Boralex and Northland Power, both significant wind power producers, rose 3.6 per cent and 5.8 per cent, respectively. Meanwhile, Cameco, which mines uranium for nuclear power, rose 7.6 per cent.
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