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Bank of America Merrill Lynch shuts European power, gas desk

The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS/Bobby Yip
The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS/Bobby Yip

LONDON (Reuters) - Bank of America Merrill Lynch has closed its European power and gas desk following low demand for power and gas hedging and regulatory changes, a company spokesperson said on Tuesday.

"The bank will continue to trade coal, commodity indices, oil, metals and US power & gas from its Houston, London, New York and Singapore offices," the spokesperson said.

(Reporting by Karolin Schaps; editing by Keiron Henderson)

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