European Stocks Rise as Wind Energy Surges and ADVNSYS IPO Announced
European shares rose, driven by wind energy stocks following a favorable court ruling for Orsted. Kingspan announced plans for an Amsterdam IPO of its ADVNSYS unit. Technology and retail sectors saw gains despite Sweden's interest rate cut and ASMI's revenue outlook drop.
European markets saw a positive boost on Tuesday, propelled by the wind energy sector after Denmark's Orsted received a favorable U.S. court ruling allowing it to resume work on a project near Rhode Island. The STOXX 600 index climbed 0.5%, with French stocks leading the charge, improving by 1%.
Kingspan Group surged 10.2% following an announcement it would pursue an initial public offering (IPO) of its data-center unit, ADVNSYS, in Amsterdam. Despite challenges in the tech sector, European tech stocks rose by 0.6%, recovering from earlier losses as Nvidia's investment news buoyed the market.
However, not all sectors thrived; healthcare declined by 0.5%, and ASM International saw its shares fall after revising its revenue forecast for H2 2025. Meanwhile, Sweden's central bank cut interest rates to 1.75%, impacting currency movements and domestic stock performance.
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