EnergyWatch

GE's share hits lowest level since 2011

US industry giant General Electric has felt a hit to its earnings and its share price, which reached its lowest level since 2011 this Monday.

Photo: /ritzau/AP/Thibault Camus

The GE share was pressured down during Monday trading by an analysis from Bank of America Merrill Lynch, which dropped its recommendation to "neutral" from a previous "buy" and calls it likely that GE will lower its 2018 forecast when its fourth quarter report is published Wednesday.

The GE share was in decline over the past week after the company revealed that in the fourth quarter it had to spend USD 6.2 billion to bolster insurance reserves in GE Capital.

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