European shares moved higher on Wednesday, with banking, clean energy and technology stocks supporting gains as investors responded to the latest US election results.
The STOXX 600 rose 0.5% by 0816 GMT, while Germany’s DAX and France’s CAC 40 also advanced. Italy’s FTSE MIB outperformed, gaining 1.2%.
Banking stocks led the gains, rising more than 2%, while clean energy companies benefited from expectations of a more supportive policy environment. Vestas climbed 5%, Orsted gained 7% and Nordex advanced 4.7%.
Technology shares also moved into positive territory, supported by strong forecasts from US chipmaker AMD. ASML and Infineon both gained more than 1.1%, adding to the sector’s recovery.
Novo Nordisk rose 4.6% after raising its full-year sales and profit forecasts, supported by stronger-than-expected third-quarter operating profit.
The positive movement followed an initially cautious market reaction to concerns about potential changes to US artificial intelligence regulation and their implications for technology investment.
JPMorgan European Discovery Trust plc is an investment trust company. The Investment Trust JEDT objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom.
