An international agreement to reduce coal use dragged miners’ shares lower on Monday, but tight supply of the commodity provided a floor for a sector that has chalked up huge gains this year. U.N. climate talks in Glasgow ended on Saturday with a deal targeting fossil fuel use . Wording was softened to call for a “phase down” rather than “phase out” of coal after lobbying from India, among others. Big miners China Shenhua Energy and Yanzhou Coal fell 1% and 2.4% respectively in Hong Kong, where the broader stock market (.HSI) edged up slightly. An index of mainland-listed miners (.CSI000820) fell about 1%. Coal stocks in other regions also came under pressure. “Climate activists will undoubtedly frame COP26 as failing on coal (and fossil fuels). We look past this frustration (and current energy market conditions) and see ongoing incremental consensus in the need […]