Oil Stocks Biggest Losers With Valuations Lowest Since 2009
By Lu Wang – Jun 24, 2012 10:53 PM MT
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At a time of record fuel demand, bountiful oil and natural gas, and expanding economies, no stocks are doing worse in the world than energy producers from BP Plc to Hess (HES) Corp.
The MSCI World Energy Index (MXWO) has declined 9.6 percent this year, more than any other group, according to data compiled by Bloomberg. The gauge has climbed 45 percent since equities bottomed in 2009, less than any industry with earnings tied to economic growth. In the U.S., the stocks are at the cheapest levels relative to the Standard & Poor’s 500 Index since 2009.
via Oil Stocks Biggest Losers With Valuations Lowest Since 2009 – Bloomberg.