France's Total (TOTF.PA) posted a 35 percent rise in quarterly net income on Friday as higher oil prices helped make up for production lost due to the turmoil in Libya. Total, France's biggest company with a market value of 100 billion euros, said it would forge ahead with its strategy to invest to increase production as recent events in the Middle East and Japan may herald changes in energy demand. "Growing geopolitical tensions and the aftermath of the earthquake in Japan will shift the balance of the global energy markets," Chairman Christophe de Margerie said in a statement.The statement follows news late Thursday that Total plans to take a majority stake in U.S. solar company SunPower Corp (SPWRA.O), offering to pay up to $1.37 billion in one of the biggest moves ever by an oil and gas giant into the market for renewable energy.
SunPower Corporation (SunPower) is a vertically integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies. Shares of SPWRA remained unchanged at $16.12. In the past year, the shares have traded as low as $9.61 and as high as $19.88. On average, 3709340 shares of SPWRA exchange hands on a given day and today's volume is recorded at 0.
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