Renewable energy groups rise in Europe after US midterm elections

Siemens Energy AG

Wed 08:15

** European renewable energy stocks rise on Wednesday after Democrats gained control of both the Senate and the House in the US midterm elections
** Analysts expect it to result in a more favourable renewable energy policy
** Denmark's Vestas VWS.CO, Orsted ORSTED.CO rise 5-7%, Germany's Nordex NDXG.DE and SMA Solar S92G.DE both up between around 5% and 6%
** Portugal's EDP Renewables EDPR.LS up some 4%, France's Voltalia VLTSA.PA rises around 6%
** Democrats' victory should mean stronger political support for renewable energy in the US, analyst Leon Mühlenbruch from MWB Research says
** Mühlenbruch notes the result could also slow down the expansion of data centres, in turn lowering future electricity demand
** Germany's Siemens Energy ENR1n.DE, reliant on date centres demand, is up 0.4%
     

 (Reporting by Boleslaw Lasocki and Danny Callaghan)
 ((boleslaw.lasocki@thomsonreuters.com))