Energy investors unfazed as stocks hit by Norway divestment plan
Investors in the swath of Australian oil and gas stocks hit by the divestment decision by Norway's $US1 trillion sovereign wealth fund are keenly watching for any similar move by domestic pension funds after the sector's sharp sell-off on Monday.
Mid-cap player Beach Energy was down as much as 3.9 per cent, while juniors Karoon Energy and Cooper Energy lost more than 3 per cent. Woodside Petroleum, the biggest Australian stock included in the list of about 150 stocks subject to divestment by Norway's Government Pension Fund Global, dipped as much as 3.1 per cent.
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