German utilities outperform sluggish European stock markets

jueves 2 de julio de 2015 08:29 GYT

* German utilities boosted as coal levy plan scrapped

* Electrolux slumps after deal challenged in U.S.

* Europe bourses in 2015:

* Asset performance in 2015:

By Lionel Laurent

LONDON, July 2 (Reuters) - German utility stocks rose sharply on Thursday after plans for a coal levy were scrapped, outperforming a flat showing on other benchmark European equity indexes that remained dogged by concerns over Greece.

German utility RWE rose 6 percent, while rival E.ON advanced 3.3 percent after the plans for a levy on coal-fired power plants were dropped.

Any decision to go ahead with the plans would have threatened the survival of 17 out of 20 of RWE's brown coal-fired power stations & two out of three brown coal mines, RWE had said during months of wrangling.

The STOXX Europe 600 Utility Index rose 1.6 percent, outstripping the broader, pan-European STOXX 600 index, which was flat.   Continuación...