Shell's CEO to address London-to-NYSE move concerns as Shell and BP anticipate declines in Q3 net income.
Shell's CEO, Wael Sawan, will address investor concerns this week regarding a potential move from the London Stock Exchange to New York, prompted by perceptions of London being "undervalued." While no immediate decision is expected, analysts project a 14% decline in Shell's third-quarter net income to £4.1 billion, with BP anticipating a 30% drop to £1.7 billion. Shell aims to close valuation gaps with U.S. firms through share buybacks.
October 27, 2024
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