Shares of power producers slipped as Treasury yields rose sharply.
The yield on the two-year Treasury topped 4%, still far shy of highs earlier in the year, but up significantly from the lows of the banking crisis.
Shares of Brazilian utility Companhia Energética de Minas Gerais rose after the power producer, known as Cemig, posted modest fourth-quarter revenue growth.
Brookfield Renewable Partners L.P. said it will acquire Australian integrated electricity generator Origin Energy Ltd. with a consortium of other investors in a deal with an enterprise value of about $12.43 billion.
FirstEnergy Corp. on Monday said Brian Tierney is joining the utility holding company as president and chief executive on June 1.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-27-23 1714ET
