Sector Wrap: North American solar companies rise
Shares of North American solar companies continued to rise Friday after a United States trade panel ruled against Chinese solar companies and the European Union began an investigation.
On Wednesday, the U.S. International Trade Commission found that Chinese companies have materially injured U.S. manufacturers, upholding tariffs that can run as high as nearly 250 percent.
And on Thursday, the European Union began an investigation into alleged "dumping" of low-cost Chinese solar panels into Europe that could result in duties in nine months. China produces 65 percent of the world's solar panels, and the EU is its primary export market.
Shares of North American solar companies rose Friday:
— SunPower Corp. shares rose 12 cents, or 2.7 percent, to $4.57. They rose 8.8 percent this week.
— First Solar Inc. shares rose 40 cents to $24.55. They rose 8.9 percent this week.
— Canadian Solar Inc. shares rose 2 cents to $2.69. They rose 1.9 percent this week.
Shares of Chinese solar companies were mixed Friday:
— JA Solar Holdings Co. Ltd. shares rose 3 cents, or 3.8 percent, to 75 cents. They rose 4.2 percent this week.
— Suntech Power Holdings Co. Ltd. shares rose 3 cents, or 2.9 percent, to 91 cents. They fell 9.4 percent this week.
— China Sunergy Co. Ltd. shares fell 4 cents, or 3.4 percent, to $1.14. They fell 2.6 percent this week.
— Yingli Green Energy Holding Co. Ltd. shares fell 2 cents to $1.62. They fell 4.1 percent this week.
— LDK Solar Co. Ltd. shares rose 1 cent to 90 cents. They are up 4 percent for the week.