[Top News] from [REUTERS]
[Green Business]
JA Solar rises after Q3 results
Tue Nov 10, 2009 8:25am EST
NEW YORK (Reuters) - Shares of JA Solar Holdings rose 9.2 percent to $4.50 in premarket trading on Tuesday, after the company reported its third-quarter results.
(Reporting by Ryan Vlastelica, Editing by W Simon )
[Green Business]
JA Solar posts profit, shares rise
Tue Nov 10, 2009 8:25am EST
NEW YORK (Reuters) - Chinese solar power company JA Solar Holdings Co Ltd reported its highest-ever quarterly shipments on Tuesday and turned a profit versus a year-earlier loss, lifting its shares in premarket trade.
JA Solar's third-quarter net earnings were $17.3 million, or 10 cents per share, compared with a year-earlier loss of about $18 million, or 36 cents per share.
The company, one of the world's lowest-cost solar products makers, said operating income in the third quarter of 2009 was $21.7 million, compared with a year-ago operating profit of $63.5 million.
Revenue in the quarter fell 38 percent to $193.3 million.
Shares in JA Solar rose nearly 7 percent in premarket trade to $4.40 per share.
(Reporting by Matt Daily, editing by Gerald E. McCormick)
[Green Business]
EU carbon prices edge down, following power
Tue Nov 10, 2009 8:30am EST
LONDON (Reuters) - Benchmark European carbon emissions futures were down 5 cents at 1200 GMT on the European Climate Exchange on Tuesday, following power markets lower.
EU Allowances (EUAs) for delivery in December were trading at 13.82 euros ($20.70) a tonne. EUAs traded around a one-month low on Monday.
Carbon may continue to weaken as margins shrink on power price contracts, as usually happens toward the end of the calendar year contract, one trader said.
"The premium on power contracts is eroding," he said.
As a result, there was also a narrowing of clean dark spreads -- the profit from burning coal to produce electricity including the cost of buying carbon emissions permits. "So there's less incentive to buy carbon."
U.S. oil fell on Tuesday to around $79 a barrel as a late-season hurricane subsided in the Gulf of Mexico and traders awaited key U.S. inventory data.
German Calendar 2010 baseload power on the EEX was down 7 cents at 46.45 euros per megawatt hour.
U.N.-backed certified emissions reductions (CERs) fell 20 cents to 12.74 euros a tonne. The EUA-CER spread widened to 108 cents.
German Chancellor Angela Merkel said on Tuesday she would go to Copenhagen to help agree a new global deal on climate change. [nLA632381]
"A failure of the climate conference in Copenhagen would set progress on international climate policy back years. We cannot afford this," she said.
In an interview with Reuters, U.S. President Barack Obama said late on Monday that he may also attend the U.N. climate summit. [nLA646451]
[Green Business]
JA Solar rises after Q3 results
Tue Nov 10, 2009 8:25am EST
NEW YORK (Reuters) - Shares of JA Solar Holdings rose 9.2 percent to $4.50 in premarket trading on Tuesday, after the company reported its third-quarter results.
(Reporting by Ryan Vlastelica, Editing by W Simon )
[Green Business]
JA Solar posts profit, shares rise
Tue Nov 10, 2009 8:25am EST
NEW YORK (Reuters) - Chinese solar power company JA Solar Holdings Co Ltd reported its highest-ever quarterly shipments on Tuesday and turned a profit versus a year-earlier loss, lifting its shares in premarket trade.
JA Solar's third-quarter net earnings were $17.3 million, or 10 cents per share, compared with a year-earlier loss of about $18 million, or 36 cents per share.
The company, one of the world's lowest-cost solar products makers, said operating income in the third quarter of 2009 was $21.7 million, compared with a year-ago operating profit of $63.5 million.
Revenue in the quarter fell 38 percent to $193.3 million.
Shares in JA Solar rose nearly 7 percent in premarket trade to $4.40 per share.
(Reporting by Matt Daily, editing by Gerald E. McCormick)
[Green Business]
EU carbon prices edge down, following power
Tue Nov 10, 2009 8:30am EST
LONDON (Reuters) - Benchmark European carbon emissions futures were down 5 cents at 1200 GMT on the European Climate Exchange on Tuesday, following power markets lower.
EU Allowances (EUAs) for delivery in December were trading at 13.82 euros ($20.70) a tonne. EUAs traded around a one-month low on Monday.
Carbon may continue to weaken as margins shrink on power price contracts, as usually happens toward the end of the calendar year contract, one trader said.
"The premium on power contracts is eroding," he said.
As a result, there was also a narrowing of clean dark spreads -- the profit from burning coal to produce electricity including the cost of buying carbon emissions permits. "So there's less incentive to buy carbon."
U.S. oil fell on Tuesday to around $79 a barrel as a late-season hurricane subsided in the Gulf of Mexico and traders awaited key U.S. inventory data.
German Calendar 2010 baseload power on the EEX was down 7 cents at 46.45 euros per megawatt hour.
U.N.-backed certified emissions reductions (CERs) fell 20 cents to 12.74 euros a tonne. The EUA-CER spread widened to 108 cents.
German Chancellor Angela Merkel said on Tuesday she would go to Copenhagen to help agree a new global deal on climate change. [nLA632381]
"A failure of the climate conference in Copenhagen would set progress on international climate policy back years. We cannot afford this," she said.
In an interview with Reuters, U.S. President Barack Obama said late on Monday that he may also attend the U.N. climate summit. [nLA646451]
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