European stocks close higher as Trump 2.0 gets underway; Swedish bank Avanza gains 13%
European stocks ended the day higher on Tuesday as traders digested the first executive orders signed by newly inaugurated President Donald Trump.
The pan-European Stoxx 600 provisionally closed around 0.4%, with sectors and major bourses in mixed territory. Germany’s DAX flipped around the flatline a day after hitting a record high.
Shares of offshore wind developer Orsted sank around 10.7% after the company unveiled a fourth-quarter 12.1 billion Danish Krone ($1.7 billion) hit linked to its U.S. offshore wind turbine projects.
At the other end of the index, Swedish online bank Avanza shares gained 13% after the firm announced a full-year operating profit of 2.6 billion Swedish krona ($240 million) — a 14% year-on-year increase.
Meanwhile, European automakers Stellantis and BMW each fell more than 1.5% as investors assessed the threat of potential U.S. tariffs.
Trump — whose second term in office began Monday following his inauguration as the 47th president of the U.S. — has threatened to impose fresh tariffs on U.S. imports and promised to “put America first.” After the inauguration ceremony, Trump signed some of his first executive orders before an audience of 20,000 supporters at the Capital One Arena in Washington.
Back in Europe, private sector wages in the U.K. rose 6% in the three months to November, compared to the previous year, the Office for National Statistics said Tuesday. The agency also revealed that November payroll figures fell by 0.1% compared to October, pointing to a weakening labor market. The two data indicators together give the Bank of England’s rate-setters a mixed picture of the state of the economy.
Source: CNBC
