
Vestas and Ørsted slump After Trump’s threats
Vestas and Ørsted shareholders are feeling the pain as U.S. President-elect Donald Trump has announced a halt on new wind turbines in U.S. territory and threatened tariffs on Danish goods if Greenland is not ceded to the U.S. Vestas and Ørsted’s stock values plunged by 7.4% and 5.8%, respectively. Sydbank’s head of equity analysis, Jacob Pedersen, links the share price drops directly to Trump’s statements, citing investor nervousness despite known issues. Pedersen notes that the major Danish firms, including Vestas, have production setups in the U.S. that alleviate the need for imports from Denmark, and hence potential tariffs might not significantly impact them. However, smaller Danish exporters to the U.S. could suffer. In contrast, Novo Nordisk saw a 2.8% stock increase on Wednesday. Ørsted dropped two U.S. offshore wind projects in November 2023 due to delays and rising interest rates but continues to develop other American ventures.