European clean energy stocks tumble as Trump claims US election win
COPENHAGEN, Nov 6 (Reuters) -Shares in European clean energy groups plummeted on Wednesday as Donald Trump claimed victory in the U.S. presidential election and Republicans took control of at least one chamber of Congress.
The world's largest offshore wind developer Orsted ORSTED.CO fell 9.5% by 0840 GMT while wind turbine makers Vestas VWS.CO and Nordex NDXG.DE traded down 8.7% and 3.4%, respectively.
Trump has vowed to scrap offshore wind projects through an executive order on his first day in office.
Shares in German utility RWE RWEG.DE, which also has wind assets, fell 2.3%, while Portugal's EDP Renovaveis traded 6.8% lower.
Global investors were pricing in a win for Republican Trump as he claimed victory in the 2024 presidential contest after Fox News projected that he had defeated Democrat Kamala Harris.
Vestas, Orsted and EDP were the biggest decliners on the pan-European STOXX 600 index .STOXX
Reporting by Stine Jacobsen, additional reporting by Danilo Masoni, editing by Jan Harvey
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
