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发表于 2007-10-31 07:26
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Sector Snap: Solar Shares Rise With Oil
Monday October 29, 2:06 pm ET
By Lauren Tara Lacapra, AP Business Writer
Solar-Product Stocks Make Significant Gains on New Oil Price Record, Supply Agreements
NEW YORK (AP) -- Shares of solar-product makers made healthy gains across the board Monday, as oil prices once again touched a new record.
纽约(美联社)太阳能产品制造商股票周一取得健康飘红的走势,由于原油价格再次触及了新的纪录。
While oil prices and solar stocks don't have an economic correlation, market psychology favors renewables when there are reminders of the "finite" nature of petroleum reserves, said Cowen and Co. alternative energy analyst Rob Stone. Oil prices have jumped 9 percent since the Energy Department on Wednesday reported that oil supplies dropped sharply during the week ended Oct. 19.
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"When oil enters new trading ranges, that has a significant impact on the group," Stone said in an interview Monday. "You saw further discussion this morning of whether oil was going to breach $100."
Light, sweet crude oil for December delivery rose 33 cents to $92.19 a barrel on the New York Mercantile Exchange after earlier reaching a new trading record of $93.20.
Higher oil prices will also put increasing pressure on legislators to pass a long-awaited energy bill, one of whose sticking points has been renewable energy provisions. The bill will likely provide further incentives for alternative energy companies, including solar-product makers.
"We're bullish on the solar group overall," Stone said.
Among the biggest movers were China Sunergy Co., which rose $1.94, or 21 percent, to $11.07; Ascent Solar Technologies Inc., which rose $2.07, or 12 percent, to $19.19; and LDK Solar Co., which gained $3.19, or 8.4 percent, to $41.08.
Several companies reported supply agreements over the last week, which also provided boosts for individual stocks.
Yingli Green Energy Holding Co. said Monday it signed new contracts to clarify pricing on a 1,232-ton polysilicon supply deal. Its shares rose $2.71, or 7.9 percent, to $37.10 in afternoon trading.
LDK said last week it signed a contract worth about $534 million to supply solar wafers to solar cell maker Canadian Solar Inc. Canadian Solar shares rose 95 cents, or 10 percent, to $10.40.
Suntech Power Holdings Co. said Thursday it will purchase $1.5 billion worth of polysilicon from Asia Silicon Co. under a fixed-price contract. Its shares rose $5, or 9.1 percent, to $60.16. |
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