Insurers fall, Home Depot and generator shares jump as Hurricane Florence barrels toward Carolinas

As two potentially major hurricanes are brewing in the Atlantic Ocean, investors bid up shares that stand to benefit from increase sales of plywood and generators and sold shares that would be hurt by damage claims.

Hurricane Florence could strike a direct blow on the southeast U.S. later this week.

Home Depot and Lowe's shares each rose nearly 2 percent in trading Monday, while generator manufacturer Generac stock popped 5.7 percent and roofing supplier Beacon rose 7.3 percent. Regional construction companies Louisiana-Pacific and Fluor shares also both rose about 1 percent.

Insurance stocks sank as Florence rolled closer, with Travelers and Allstate each falling by about 2 percent and high-end real estate insurer Chubb fell 0.8 percent.

Let's block ads! (Why?)

from Top News & Analysis https://ift.tt/2O5ihd5
via IFTTT