Imperial Oil falls after higher than expected 2025 capex forecast

Imperial Oil

12/12/2024 15:50

** Canadian energy major Imperial Oil's  IMO.TO  shares fall
4.9% to C$98.98
    ** Co expects higher capex in 2025 of C$1.9 bln ($1.34 bln)
to C$2.1 bln vs analysts' est of C$1.71 bln - data compiled by
LSEG
    ** IMO had forecast 2024 capital spending between C$1.8 and
C$1.9 billion
    ** Brokerage Eight Capital remains negative on IMO, says
2025 capex budget is higher than expectations
    ** Including session's moves, stock up 33.5% YTD

($1 = 1.4167 Canadian dollars)

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))