Orsted shares plummeted by over 25% on Monday morning after the wind farm developer announced a 60 billion Danish kroner ($9.4 billion) rights issue following a “material adverse development” in the US market.
The company’s plan to sell off its Sunrise Wind project off the coast of New York was put on hold due to this unexpected turn of events, leaving it unable to raise funds from the planned partial divestment.
Meanwhile, global trade remains a key focus for investors, with the US-China tariff deadline looming. The two countries’ deal, which suspended most tariffs for 90 days, is set to expire soon.
Norges Bank Investment Management (NBIM), the world’s largest sovereign wealth fund, also announced plans to reduce its investments in Israeli companies due to the “humanitarian crisis” in Gaza. The fund will now focus on investing in companies that operate within the equity benchmark index, while simplifying its management of investments in the market.
US stocks opened little changed at the start of the new trading week, with the S&P 500 and Nasdaq Composite hovering around flat. However, some analysts suggest that AI anxiety may be contributing to weaker hiring in the US labor market, particularly in the tech sector.
European stocks closed mixed, with regional shares looking set to rise slightly at today’s open. The impending tariff deadline between the US and China is influencing sentiment in Asia-Pacific markets, which were muted on Monday.
Source: https://www.cnbc.com/2025/08/11/european-shares-poised-to-open-higher-as-global-trade-holds-spotlight-.html