Broad Stock Market Rally Fails to Lift Oil Equities in April

摘要

Oil and natural gas equities failed to participate in a broader stock market rally during April as stagnating oil and gas prices and dismal earnings expectations pressured the sector. Share prices of the 13 oil and gas companies that populate the International Petroleum Finance (IPF) index mostly underper-formed the broader market. The IPF index gained just 2.6% in April while the S&P 500 index popped 9.4% as financials continued to pull the market up from its early March lows. Meanwhile, the FT World Actuaries index rose 11.6%.