European shares rise as Democratic sweep lifts clean energy, bank stocks

European shares rose ​on Wednesday with banks and clean ​energy stocks among top ‌gainers ​after Democrats won control of both chambers of the US Congress, while Wegovy maker Novo Nordisk surged after ‌raising its annual forecasts.

The pan-European STOXX 600 index gained 0.5% by 0816 GMT, with Germany's DAX and France's CAC 40 also higher. Italy's benchmark FTSE MIB outperformed with ‌a 1.2% gain. Banks were among the top-performing sectors, climbing more than 2% ‌as investors rotated into domestically focused lenders that have lagged the broader market for much of the year.

STOXX futures fell as much as 1.4% earlier in the day before recovering after ⁠Democrats ​captured majorities in ⁠both the Senate and House. Investors also took comfort after US President Donald Trump accepted the ⁠election results. Clean energy stocks that have borne the brunt of Trump's policies were the ​biggest gainers. Vestas jumped 5%, Orsted gained 7% and Nordex surged 4.7%.

Novo ⁠Nordisk advanced 4.6% after the Wegovy maker reported third-quarter adjusted operating profit above expectations and raised ⁠its ​full-year sales and profit forecasts. Tech stocks also recovered from early declines to trade 0.4% higher. Strong forecasts from US chip company Advanced Micro Devices offset ⁠concerns that stricter oversight by Democrats could make AI companies more cautious about spending ⁠on the technology.

Infineon ⁠and ASML climbed more than 1.1% each, while AI equipment makers including Siemens Energy and Schneider Electric were marginally higher.