Storebrand ASA ended its investment in most palm oil producers, apart from Golden Agri-Resources Ltd., after Norway’s second-largest insurer found the companies breached its environmental sustainability standards.
About $8 trillion of known coal reserves lie beneath the earth’s surface. The companies planning to mine and burn them are being targeted by a growing group of investors concerned with the greenhouse gases that will be made.
The expansion of a Bank of Japan lending program and a government stimulus package announced this week to weaken the yen and bolster economic growth have failed to encourage investors at MFC Global Investment Management (Japan) Ltd. and STB Asset Management Co.
Linklaters LLP advised ThyssenKrupp AG, Germany’s largest steelmaker, on its agreement to sell its U.S. plant to ArcelorMittal and Nippon Steel & Sumitomo Metal Corp. as it seeks to offload operations that are the worst investments in its more than 200-year history.
Storebrand ASA fell the most in a month in Oslo as Gjensidige Forsikring ASA sold shares in Norway’s second-largest insurer and reclassified its holding as a financial investment, prompting speculation about more divestments.
Storebrand ASA, Norway’s largest publicly traded insurer, said the government’s plan to scrap an eight-year-old tax exemption for some life-insurance products will prompt the industry to charge customers more.
Storebrand ASA rose to a 20-month high in Oslo as JPMorgan Cazenove upgraded its rating on Norway’s second-largest insurer, citing improved growth prospects and reduced risk on its guaranteed portfolio.