MARKET OPEN: ExxonMobil warning casts shadow over Z Energy

Fri, 02 Oct 2020

ExxonMobil’s warning that earnings are under pressure from a raft of factors will put Z Energy under the pump, as New Zealand’s biggest fuel retailer contends with a slump in demand.The energy sector was the weakest performer on Wall Street overnight, as US stock markets ended on a soft note when hopes of a deal for another covid aid package were dashed.Exxon shares were down 3.6 percent after it said falling oil and gas prices, shrinking refining margins and sagging sales volumes would dent earnings.Z Energy’s shares have slu...

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