The Graun said In the aftermath of the Paris agreement, shares in coal firms plunged rapidly. Peabody, the world’s largest coal firm, saw stock values drop 12.6%, while Consol Energy holdings was down by 3.3%. That’s interesting; one of the things I wondered about the Paris pow-wow was how the markets might take it. But this being economics in the Graun it needs checking; the linked article Paris climate pact sinks coal stocks, lifts renewable energy seems to fit, but we should look closer. See my image.
This is a stock in long-term decline, possibly because of the impacts of GW, but not because of anything that happened this week. On that scale, you can’t even see the “rapid plunge”. Console also seems to be in long-term decline, though not by so much. If you look at the week-view you can see a drop on Monday; but you can also see a bigger gain the previous Thursday.
* Climate deal: Carbon dated? FT: Pilita Clark in Paris: “Paris accord will not solve global warming but may spur renewable energy funding and hit fossil fuels”. But its wurbly.
* And then there was one. So, one more to go – Brian at Eli’s on Arch Coal bankruptcy.