STOXX eyes best day in a year, volatility crushed
STOXX 600 up 1.2%
Defence up, renewables down
Novo up 8% after results
Trump trades dominate
Wall St futures rally
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STOXX EYES BEST DAY IN A YEAR, VOLATILITY CRUSHED
The prospect of Donald Trump returning to the White House is giving a big boost to U.S. futures and European stocks are enjoying a good rally too, helped by dollar earners and other stocks that might benefit from possible tax cuts in the U.S..
Defence .SXPARO is also getting a nice lift, up over 3% to a fresh record high, helped by views that Trump could force NATO allies to spend more in defence.
Stocks exposed to Russia or Ukraine, such as London-listed Ferrexpo FXPO.L and Austrian bank Raiffeisen RBIV.VI, are surging on bets Trump might help ease tensions in the region.
All in all, that's lifted the STOXX 600 by as much as 1.9%, briefly putting it on track for its best day in over a year, while pushing euro zone equity volatility .V2TX down 3 points to an multi week low. The region-wide index .STOXX was last up 1.2%.
But there are losers too, namely renewables, with a sector ETF INRG.L falling by 5% to multi-year lows. Wind power groups Orsted ORSTED.CO and Vestas VWS.CO fell over 10% at one point. Autos .SXAP are lagging on concerns over possible tariffs under Trump.
Novo Nordisk NOVOb.CO is up 8% following results.
Here is your opening snapshot:
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WEDNESDAY'S OTHER LIVE MARKETS POSTS:
EUROPE BEFORE THE BELL: FUTURES RISE, NOVO EARNINGS
'TRUMP TRADES' IN FULL SWING
EU open https://tmsnrt.rs/4fyRXo5
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