US presidential debate lifts Danish energy stocks

Following the debate between the U.S. presidential candidates, Danish energy stocks such as Vestas and Ørsted rose by 5.0% and 4.4%, respectively, on Copenhagen’s Nasdaq. The increase seems unrelated to company-specific news but may be a reaction to the decreased likelihood of a scenario unfavorable to the wind industry, previously feared under a potential Trump re-election. Trump’s opposition to offshore wind farms and intent to halt projects could impact both Vestas’ turbine deliveries and Ørsted’s major offshore wind projects. Analysts suggest that Kamala Harris performed well in the debate, possibly altering election odds and investor sentiment toward green energy stocks favorably. Jacob Pedersen, head of equity analysis at Sydbank, notes that Trump’s victory might make it more difficult for the green energy sector, with the U.S. being a significant market for Vestas. Market reactions are volatile, with the odds of a Harris victory now improved according to bookmakers.