Salesforce, American Express Share Gains Contribute To Dow's 168-point Climb

North European Oil Royalty Trust

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Energy : Oil, Gas & Consumable Fuels | Small Cap Growth

Company profile

North European Oil Royalty Trust (the Trust) is a grantor trust which, on behalf of the owners of units of beneficial interest in the Trust (the unit owners), holds overriding royalty rights covering gas and oil production in certain concessions or leases in the Federal Republic of Germany. The rights are held under contracts with local German exploration and development subsidiaries of ExxonMobil Corp. (ExxonMobil) and the Royal Dutch/Shell Group of Companies (Royal Dutch/Shell Group). Under these contracts, the Trust receives various percentage royalties on the proceeds of the sales of certain products from the areas involved. Its royalties are received for sales of gas well gas, oil well gas, crude oil, condensate and sulfur. The Trust conducts no active business operations and is restricted to collection of income from royalty rights and distribution to unit owners of the net income after payment of administrative and related expenses.

Salesforce, American Express Share Gains Contribute To Dow's 168-point Climb

8:26 pm ET March 14, 2023 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Powered by positive growth for shares of Salesforce and American Express, the Dow Jones Industrial Average is climbing Tuesday afternoon. The Dow is trading 168 points (0.5%) higher, as shares of Salesforce (CRM) and American Express (AXP) have contributed around a quarter of the index's intraday rally. Salesforce's shares have risen $6.99, or 4.0%, while those of American Express are up $4.93 (3.1%), combining for a roughly 79-point bump for the Dow. Also contributing significantly to the gain are Intel (INTC), Boeing (BA), and Microsoft (MSFT). A $1 move in any of the benchmark's 30 components results in a 6.59-point swing.

Data source: Dow Jones Market Data, FactSet. Data compiled March 14, 2023.

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

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March 14, 2023 20:26 ET (00:26 GMT)