European shares rise as banking and clean energy stocks rally
The pan-European STOXX 600 index climbed 0.5 per cent following the Democratic victory in the US Congress.
European shares advanced on Wednesday, led by gains in the banking and clean energy sectors, according to a Reuters report cited by The Economic Times.
The pan-European STOXX 600 index rose 0.5 per cent to 0816 GMT. Germany's DAX and France's CAC 40 also traded higher, while Italy's FTSE MIB gained 1.2 per cent.
Banking stocks were among the top performers, increasing by more than 2 per cent as investors moved towards domestic lenders. Clean energy stocks also saw gains, with Orsted advancing 7 per cent, while wind turbine makers Vestas and Nordex rose 5 per cent and 4.7 per cent respectively.
Novo Nordisk shares increased 4.6 per cent after the company raised its full-year sales and profit forecasts and reported third-quarter adjusted operating profits that exceeded market expectations.
Technology stocks recovered from earlier losses to trade 0.4 per cent higher. Strong forecasts from US chipmaker Advanced Micro Devices helped offset concerns regarding potential Democratic oversight of artificial intelligence spending.
Individual stocks including Infineon and ASML gained more than 1.1 per cent each, while Siemens Energy and Schneider Electric traded marginally higher.