Renewables Surge, Bayer Beats Estimates, Munich Re Underperforms
On this episode of Stock Movers:
- Renewable energy stocks rally in Europe on Tuesday after US House Republicans proposed a phase-out of incentives to develop clean-energy projects that was better than feared, according to analysts.
- Bayer's shares surged after its earnings beat expectations, with robust demand for its new cancer and kidney medicines helping offset a decline in agricultural sales.
- Shares in Munich Re fall as much as 5.4%, making it the worst performer on the Stoxx 600 Insurance Index, after a 1Q profit slump caused by the Los Angeles wildfires. Analysts note, however, that solvency was ahead of consensus
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