First Solar, Noble Corp. spark gains in energy stocks
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New York (dow Jones)--the first solar company and by Noble company on Tuesday in energy stocks of income, for TransCanada, it from the royal Dutch shell won the contract, to build a major natural gas pipeline in Canada.
TransCanada Corp. CA:TRP +0.36% TRP +0.89% will build the $4 billion Coastal GasLink pipeline to move natural gas from the Montney region in British Columbia to a liquid-natural-gas export facility near Kitimat in the same province.
The LNG Canada project is a natural-gas export joint venture of ShellRDS.A +0.57% , Korea Gas Corp., Mitsubishi Corp. and PetroChina Co. Ltd.PTR -0.31%
PTR -0.31% Sharres of TransCanada rose 0.3%.
In the broad energy sector, First Solar Inc. FSLR +5.38% rose 2.4%, while Noble Corp. NE +4.13% and Chesapeake Energy Corp. CHK +4.60% rose about 2% each.
Energy stocks contained in the S&P 500 Index rose 0.2%, on average. On the down side, Halliburton Co. HAL +0.10% fell 1.6% and pipeline firm Kinder Morgan Inc. KMI -0.71% dipped 1.1%.
Checking the major benchmarks in the energy sector, the NYSE Arca Oil IndexXX:XOI +1.01% rose 0.4%, the NYSE Arca Natural Gas Index XX:XNG +1.45% moved up by 0.2% and the Philadelphia Oil Service Index OSX +1.93% rose 0.5%.
Steve Gelsi is a reporter for MarketWatch in New York.
