0846 GMT - Shell delivered an overall positive update on its capital markets day, with the new management setting further progress rather than a major shake up, RBC Capital Markets analysts Biraj Borkhataria and Adnan Dhanani say in a note. The company has set a better-than-expected profit margin outlook with improved cost reductions, they say. Added to that, Shell's guidance for capital expenditure of between $20 billion and $22 billion per year from 2025 until 2028 came at the midpoint of the market consensus, the analysts say. Added to that, the company has set increased return to shareholders, with a preference for share buybacks and kept its dividend growth policy, they say. "Overall, the update screens well, and we'd put this in the 'boring but good' category," they add. Shares are up 1.95%. (michael.susin@wsj.com)
(END) Dow Jones Newswires
March 25, 2025 04:47 ET (08:47 GMT)
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