Solar stocks gain as yields fall, odds of Harris win rise after debate
11/09/2024 12:22
** U.S.-listed shares of solar companies rise between 2.2%
and 7.2% in premarket trading, helped by lower U.S. Treasury
yields
** Shares also lifted after investors priced in greater odds
of Democrat Kamala Harris's victory after the presidential
debate on Tuesday, increasing the likelihood of a continuation
of policies which benefit the renewable energy sector
** "(The debate's outcome) suggests policies geared toward
supporting renewable polices, to include solar companies, under
a theoretical Harris-Walz administration, have a higher
probability of being reality today than before last night's
debate," Gordon Johnson of GLJ Research says
** Lower Treasury yields help reduce borrowing costs, making
it easier for solar companies to fund expansion
** Maxeon Solar MAXN.O and Jinko Solar JKS.N rise 2.5%
and 2.6%, respectively
** Enphase Energy ENPH.O gains 4.1%, Canadian Solar
CSIQ.O up 5.1%; First Solar FSLR.O , Sunnova Energy NOVA.N
and Sunrun RUN.O gain between 5.4% and 5.8%
** SolarEdge Technologies SEDG.O climbs 6.1%
(Reporting by Vallari Srivastava in Bengaluru)
((Srivastava.Vallari@thomsonreuters.com;))