European Shares Soar: Record Highs Amidst Corporate Updates and Orsted's Surge

European stocks reached record levels as investors absorbed corporate updates before U.S. inflation data. Orsted rose sharply following a favorable court ruling on its Rhode Island project, while the German DAX approached its longest winning streak since 2014. UBS shares remained unchanged as CEO Ermotti's future plans emerged.

European shares climbed to a record high on Tuesday, driven by investor anticipation over corporate updates and upcoming U.S. inflation data. Orsted notably surged after a U.S. judge approved the continuation of its Rhode Island project.

By 0807 GMT, the STOXX 600 was up by 0.1%. In Germany, the DAX experienced a slight increase amidst volatile trading. It remained on track for its longest winning streak since 2014 if current levels hold. The market is keenly awaiting a report expected to indicate rising U.S. consumer prices in December.

Shares of Danish offshore wind developer Orsted spiked by 5.7%, reaching a one-month high after a U.S. federal judge allowed the resumption of work on its Rhode Island project. The project had been previously suspended by the Trump administration. Meanwhile, UBS Group's stock showed no significant movement as reports emerged about CEO Sergio Ermotti's decision to step down in April 2027.

(With inputs from agencies.)