Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

European shares advance as Trump elected US president

admin by admin
November 6, 2024
in Stock
0
European shares advance as Trump elected US president
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

By Shashwat Chauhan

(Reuters) -European shares jumped more than 1% on Wednesday, tracking a rise in U.S. stock futures, as Donald Trump was elected U.S. president and Republicans took control of at least one chamber of Congress.

Trump recaptured the White House by securing more than the 270 Electoral College votes needed to win the presidency, Edison Research projected.

The pan-European STOXX 600 added 1.2%, though off session highs, while futures tracking the S&P 500 jumped more than 2%.

The jump in S&P futures prompted some catch-up buying in European equities, said Jochen Stanzl, chief market analyst at CMC Markets (LON:CMCX), Germany.

“We hope that not everything is going to be as bad as it could be for Europe and for Germany with regards to what Trump is going to do.”

The former U.S. President had vowed to impose a 10% tariff on imports from all countries if he won, and said the European Union would have to “pay a big price” for not buying enough American exports.

Popular “Trump Trades” – stocks which could benefit or come under pressure from a Trump presidency – were on the move on Wednesday.

“Investors have been pausing (recently) when it comes to the Trump trade, but they are fully installing it right now,” said CMC Markets’ Stanzl.

Trump is seen as bullish for European defence stocks, given his warnings to scale back U.S. military support in the region and force NATO members to spend 2% or more of their GDP on defence.

An index of Europe’s aerospace and defence companies jumped 3.1% to a record high.

Shares of European renewable energy companies came under pressure. Trump has vowed to scrap offshore wind projects through an executive order on his first day in office.

Oersted and Vestas fell 9.1% and 8.8%, respectively, while the broader utilities sector was down 1.2%.

A gauge of STOXX volatility fell to its lowest level since Sept. 27. It was last at 14.95 points.

Among earnings-driven moves, Novo Nordisk (NYSE:NVO) added 5% after the weight-loss and diabetes drugmaker reported better-than-expected quarterly sales of its popular Wegovy weight-loss drug and narrowed its 2024 outlook.

BMW (ETR:BMWG) slipped 6.9% after the German automaker reported a 61% drop in its quarterly third-quarter profit, missing analyst expectations.

The U.S. Federal Reserve and the Bank of England’s rate decisions are expected later in the week.

This post appeared first on investing.com

Previous Post

Earnings call: Essential Utilities surpasses Q3 EPS expectations

Next Post

Greece stocks higher at close of trade; Athens General Composite up 0.64%

admin

admin

Next Post
Greece stocks higher at close of trade; Athens General Composite up 0.64%

Greece stocks higher at close of trade; Athens General Composite up 0.64%

Trending News

Iran pulls out of US talks after Israel attack: can it dent Iran’s nuclear efforts?

Iran pulls out of US talks after Israel attack: can it dent Iran’s nuclear efforts?

June 13, 2025
UK energy bills to rise 6.4% from April as wholesale costs climb

UK energy bills to rise 6.4% from April as wholesale costs climb

February 25, 2025
Figma hits NYSE today—can FIG stock mirror other hot tech IPOs?

Figma hits NYSE today—can FIG stock mirror other hot tech IPOs?

July 31, 2025
Subscribe to Insightful Word


    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025
    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    August 7, 2025
    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    August 7, 2025

    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025

    Latest News

    • Dow futures soar 250 points today: 5 things to know before Wall Street opens
    • Affirm stock price is rising: is it a buy before earnings?
    • Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.