European Shares Rise as Wind Energy Stocks Surge
European shares saw a slight rise, led by wind energy stocks following a positive U.S. court ruling for Orsted. The STOXX 600 increased by 0.3%, while rival Vestas added nearly 3%. A decline in Dutch firm ASMI moderated gains. Investors await Federal Reserve guidance on interest rates.
European shares experienced a slight uptick on Tuesday, as wind energy stocks set the pace following a favorable ruling for Orsted by a U.S. court regarding its halted project.
The STOXX 600 saw a 0.3% rise, propelled by Orsted's shares which jumped 9.4%, thanks to the federal court decision allowing it to continue its offshore wind project near Rhode Island.
However, gains were tempered as ASM International's shares dropped 5.6% following a revision in its revenue forecast. Stakeholders are also anticipating insights from Federal Reserve Chair Jerome Powell on future rate adjustments.
(With inputs from agencies.)
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