Finland’s Neste Faces Renewables Test After Shares Jump 130%

Shares in Finnish energy company Neste Oyj have staged one of Europe’s biggest rebounds this year, more than doubling since April. But with the renewable fuels market set to come under pressure, some analysts are warning the rally may soon end.

After four consecutive years of declines, Neste’s stock has gained nearly 130% over the past six months as a new management team launched a turnaround plan and investors bought up shares in European renewables firms. The biggest factor in Neste’s surge was a dramatic increase in margins on renewable diesel.