LIVE MARKETS-Banks lead Europe higher

By Reuters News09:26 (UTC), 4 November 2026 Updated

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BANKS LEAD EUROPE HIGHER

European shares are up in the first hour or so of trading as investors continue to process the results of the midterm elections.

A drop in the oil price around the open also helped give stocks a boost, and the broad STOXX 600 was last up 0.7%, led by a bounce back in banks, which gained 2.8%. .STOXX, .SX7P

While much of the market looked through the midterm results, they gave a boost to certain sectors — renewable stocks for example rose, with Denmark's Oersted ORSTED.CO up 7.5% at the top of the STOXX 600.

Defence stocks are notable underperformers, particularly in Britain, where BAE Systems shares are down 5.7%. BAES.L. Thales and Saab are each down over 3%. TCFP.PA, SAABb.ST

Also of note, Novo Nordisk NOVOb.CO shares are up 4% after its results beat expectations and it raised its full-year forecasts. That said, its shares are down around 70% from their 2024 peak.

(Alun John)

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