UPDATE 2-Order boost helps to power Vestas shares higher [Reuters]
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Source: Reuters
UPDATE 2-Order boost helps to power Vestas shares higher | Reuters 3 Min Read * Vestas Q2 profit, order intake beat forecasts * Launches 200 mln euro share buyback * Says turbine prices have stabilised * Shares rise 7 pct (Adds CEO, updates share price) By Stine Jacobsen COPENHAGEN, Aug 15 (Reuters) - Shares in wind turbine maker Vestas jumped 7 percent on Wednesday after it reported forecast-beating orders and profit and said a steep decline in prices had stabilised. The wind power industry is entering a new phase with slower growth and higher pressure on prices as subsidies taper off and governments opt for more competitive contract tenders. Vestas said prices per megawatt had stabilised in the second quarter, albeit at a much lower level than last year, echoing recent statements from rivals such as Siemens Gamesa and General Electric. “Vestas’ shares have suffered from concerns over what could happen on pricing... If prices have now stabilised, then Vestas’ shares have taken more t
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