Novo Nordisk jumps on Q3 Wegovy sales beat
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STOXX volatility index at more than onemonth low
STOXX up 1.2
Nov 6 Reuters European shares jumped more than 1 on Wednesday, tracking a rise in U.S. stock futures, as Donald Trump was elected U.S. president and Republicans took control of at least one chamber of Congress.
Trump recaptured the White House by securing more than the 270 Electoral College votes needed to win the presidency, Edison Research projected.
The panEuropean STOXX 600 added 1.2, though off session highs, while futures tracking the SP 500 jumped more than 2.
The jump in SP futures prompted some catchup buying in European equities, said Jochen Stanzl, chief market analyst at CMC Markets, Germany.
We hope that not everything is going to be as bad as it could be for Europe and for Germany with regards to what Trump is going to do.
The former U.S. President had vowed to impose a 10 tariff on imports from all countries if he won, and said the European Union would have to pay a big price for not buying enough American exports.
Popular Trump Trades stocks which could benefit or come under pressure from a Trump presidency were on the move on Wednesday.
Investors have been pausing recently when it comes to the Trump trade, but they are fully installing it right now, said CMC Markets39; Stanzl.
Trump is seen as bullish for European defence stocks, given his warnings to scale back U.S. military support in the region and…