PG&E Corp. said second quarter earnings suffered because ofcosts associated with electric restructuring and its sale ofAustralian assets to Duke Energy. The company reported earnings of46 cents per share, compared to 49 cents per share for thecorresponding quarter in 1997, and net income of $174 million,compared with $193 million in 2Q97. A lower rate of exchangebetween the Australian and U.S. dollar resulted in a six-centcharge taken during the second quarter, PG&E said.
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Where’s the Expiration Related Nymex Volatility?
The June Nymex natural gas contract failed to show thevolatility normally associated with the final trading days of a gascontract by limiting itself to a narrow five cent trading range onTuesday. This tight trading band held June to a slight 0.1 centgain to $2.095.
May 27, 1998
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