Clean energy groups Neste, Nel slump as Trump wins presidency

thyssenkrupp nucera AG & Co KgaA

06/11/2024 13:13

** Shares in Finnish biofuel maker Neste  NESTE.HE  and
Norwegian hydrogen solutions provider Nel  NEL.OL  slump 8%-10%
after Donald Trump won in the 2024 U.S presidential election
    ** RBC says it sees heightened risk and potential for
weakening sentiment towards Neste, Nel and nucera  NCH2.DE ,
with Trump win now finalised
    ** "At very high level, higher tariffs means Neste's
renewable diesel produced out of Singapore as well as
electrolysers manufactured by Nel in Norway and nucera in Europe
and Asia could suffer demand destruction," the broker says
    ** Neste stock hits its lowest level since October 2017 and
is among bottom movers the pan-European STOXX 600  .STOXX  index

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))