LIVE MARKETS-European defence names boost STOXX, oil names cap gains
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EUROPEAN DEFENCE NAMES BOOST STOXX, OIL NAMES CAP GAINS
Europe's STOXX 600 .STOXX is up 0.1%, lifted by defence and aerospace stocks while oil and gas stocks provide a drag.
Defence stocks are in focus, after U.S. President-elect Donald Trump called for higher spending from NATO allies at a press conference late on Tuesday.
Rheinmetall RHMG.DE, Dassault Aviation AM.PA, Leonardo LDOF.MI, Saab SAABb.ST are up 1-3%, and Europe's defence index .SXPARO is rising 1.2%.
Elsewhere, Denmark's Orsted ORSTED.CO and Vestas Wind VWS.CO are falling between 4.2%-5%. Broker Jefferies has cut Orsted's price target amid U.S. tariff-related risks and disposal risks.
The President-elect is also a factor here. Trump said Tuesday he would seek to block new wind projects and "try to have a policy where no windmills are being built".
German software company TeamViewer is Europe's top riser, surging 13% after exceeding full year 2024 revenue guidance.
French industrial equipment manufacturer Vallourec is up over 7% at its highest level since March 2020 after achieving its zero net debt target a year ahead of schedule and confirmed its EBITDA outlook.
(Lucy Raitano)
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EUROPE BEFORE THE BELL: FUTURES FALTER AS TRUMP, JOBS DATA IN FOCUS CLICK HERE
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