0830 GMT - Shell's traders made a strong contribution to its earnings rise but higher refining margins, cost discipline and higher oil and gas prices all play their part too, Hargreaves Lansdown's Derren Nathan says. Despite the earnings rise, net debt is up 27% on the year prior and Shell moved to slow the pace of its quarterly buyback, Nathan says. It isn't surprising shares fell in opening trade, he adds. "Balance-sheet strength and resilient shareholder distributions have been a key attraction for investors, so it's understandable markets have reacted a little cautiously today," Nathan says. Shares fall 2.3% to 3,138 pence. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
May 07, 2026 04:31 ET (08:31 GMT)
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