14.09.2016 - Why This Trillion-Dollar Wealth Fund Blacklisted Duke Energy Stock
On a black day for U.S. stocks in general, Duke Energy stock fared worse than most. As stocks all around it tumbled an average of 2.5% Friday, Duke dropped 3.5% -- and it could get worse. As reported on Norway's The Local news site, Norway's sovereign wealth fund announced last week that it has added Duke Energy stock to a "blacklist" of stocks it will no longer invest in. Formerly known as the "Government Petroleum Fund," Norway built up this fund from profits earned selling off the company's oil production, and uses the fund to purchase investments around the world, as a means of diversifying its economy. At the beginning of this year, Norway's fund owned $304 million worth of Duke Energy stock, and a further $162 million worth of bonds of both the parent company and its subsidiaries...............................................Full Article: Source
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