"In a sea of stock market losses amid Russia’s invasion of Ukraine, renewables are outperforming as power prices jump and investors mull the rising need for energy alternatives.
The European Renewable Energy Index surged as much as 9.3% on Thursday, the biggest jump since the pandemic lows of March 2020, posing a stark contrast to the European market’s collapse. Orsted A/S, Siemens Gamesa Renewable Energy SA and Vestas Wind Systems A/S were the biggest winners in Europe, up more than 10% each.
The European economy is highly dependent on Russian oil and gas for energy supply, and Brent oil on Thursday surged above $105 a barrel for the first time since 2014 amid fears of a disruption to energy exports at a time of already tight supplies."
Source: Bloomberg, 02/25/2022
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