European shares greater as world buyers give attention to U.S. election; Novo Nordisk up 7%

German carmaker BMW on Wednesday reported a 83% drop in internet revenue to 476 million euros ($512 million) within the third quarter in comparison with the identical interval a 12 months earlier, sending shares decrease.

Brake system points and a “difficult market atmosphere in China” have been each impacting efficiency, BMW mentioned, whereas noting it was “on observe” to fulfill its 2024 targets. The carmaker in September lower its 2024 revenue margin outlook.

In an announcement on Wednesday BMW CEO Oliver Zipse mentioned the corporate had confronted “extraordinary challenges within the third quarter” and was now turning its consideration to the long run.

“Within the fourth quarter, we’re again on observe for stronger earnings so as to obtain our annual targets, regardless of deliberate excessive upfront expenditures,” he mentioned.

At 9:08 a.m. London time, BMW shares have been 3.77% decrease.

— Sophie Kiderlin

Well being care shares on the Stoxx 600 index rose 2.8% on Wednesday as buying and selling day received underway, boosted by Siemens Healthineers and Novo Nordisk shares leaping after the businesses launched their respective quarterly outcomes.

Siemens Healthineers was up 8.8% at 8:25 a.m. London time, whereas Novo Nordisk rose 7.4%.

Novo Nordisk on Wednesday mentioned its quarterly revenue was in step with expectations and narrowed its 2024 full-year progress steerage.

Siemens Healthineers, in the meantime, mentioned its comparable income progress for its full fiscal 12 months, which ended Sept. 30, got here in at 4.7%, which Reuters mentioned was simply wanting a Analysis-compiled consensus by Vara. The corporate mentioned its income progress got here “regardless of present troublesome market situations in China.”

— Sophie Kiderlin

European markets have been greater as buying and selling received underway on Wednesday.

The pan-European Stoxx 600 was up 0.93% at 8:04 a.m. London time, with regional bourses and sectors extensively rising. Well being care shares final led good points, including 2.53%, whereas autos fell 1.95%.

Smart posted a 55% bounce in revenue within the first half of its 2025 fiscal 12 months Wednesday, citing buyer progress and increasing market share.

The British digital funds agency mentioned that its first-half revenue totalled £217.3 million, up from £140.6 million in the identical interval a 12 months in the past.

That got here on the again of a 25% enhance in energetic clients, with Smart reporting a complete of 11.4 million shopper and enterprise purchasers.

Learn the total story right here.

— Ryan Browne

Novo Nordisk on Wednesday reported third quarter earnings broadly in step with expectations and narrowed its 2024 full-year progress steerage.

The Danish pharmaceutical large mentioned that its internet revenue within the third quarter hit 27.3 billion Danish kroner ($3.92 billion), above an LSEG combination estimate of 26.95 billion Danish kroner.

Learn the total story right here.

-Sophie Kiderlin

George Saravelos, world head of FX analysis at Deutsche Financial institution, defined that his workforce have been holding into their euro brief guess because the U.S. outcomes got here in.

In a analysis notice at roughly 5 a.m. U.Ok. time, simply across the time NBC Information projected Donald Trump would win North Carolina,, he mentioned:

“Whereas on the time of publication the consequence isn’t but confirmed, polling forecasts counsel a Trump victory is probably going. We’re holding on to our long-standing brief EUR/USD view given the uneven greenback optimistic dangers we’ve got been highlighting all through this 12 months and we transfer our year-end EUR/USD forecast right down to 1.05.”

-Matt Clinch

Steve Sosnick, chief strategist at Interactive Brokers, famous markets indicating a victory for former President Donald Trump over Vice President Kamala Harris.

“At this level proper now, the market’s known as it [for Trump]. Whether or not that seems to be true continues to be not determined. That would be the attention-grabbing factor to control,” Sosnick advised CNBC. “However once more, the markets have been forward of the pollsters, the pundits, for a while.”

Dow Jones Industrial Common futures soared greater than 480 factors, or 1.2%. Bitcoin, which is seen as benefiting from a Trump win, hit a report and was final at $74,148, up 6.7%. Treasury yields additionally climbed, with the benchmark 10-year notice yield buying and selling round 4.4%.

To make sure, a number of battleground states stay too near name or too early to name, per NBC Information.

— Fred Imbert

Bitcoin rallied Tuesday night hitting an all-time excessive as buyers guess former President Donald Trump was gaining an edge within the U.S. election.

The value of the flagship cryptocurrency touched a report $75,000 on the nostril, based on Coin Metrics. Its good points elevated as Trump took an early lead within the Electoral School, although not one of the main swing states have been known as but by NBC Information.

Change operator Coinbase rose 3% in after hours buying and selling, whereas MicroStrategy, superior 4%.

For extra on bitcoin’s worth motion on election night time learn our full story right here.

— Tanaya Macheel

Treasury yields jumped in early buying and selling Tuesday night as merchants noticed former President Donald Trump having an edge within the election.

The 10-year Treasury yield jumped 16 foundation factors at 4.44%, hitting its highest degree since July 2. The yield on the 2-year Treasury was up by 10 foundation factors to 4.30%. One foundation level is equal to 0.01%. Yields and costs have an inverted relationship.

Though not one of the main swing states have been known as but by NBC Information, merchants speculated the early returns have been favoring Trump.

Bond yields might see a giant pop within the occasion of a Trump win, they usually might surge in a Republican sweep, the place the get together captures management of Congress and the White Home. That’s as a result of Republicans could introduce tax cuts and steep tariffs, strikes that might widen the fiscal deficit and reignite inflation.

“Bonds are promoting off throughout the yield curve massively because the Trump commerce will get utilized once more,” wrote Byron Anderson, head of fastened earnings at Laffer Tengler Investments. “We see markets anticipating a Trump victory and an actual chance of a Republican sweep.”

— Yun Li

Because the outcomes of one of the vital hotly contested elections within the U.S. are available in, buyers are scrambling to place for the almost definitely end result.

Shelby McFaddin, senior analyst at Motley Idiot Asset Administration, mentioned she expects volatility this week, however a “restricted influence on long-term investments as markets await actual coverage implications.”

Any bets made earlier than the outcomes are ultimate are “pure hypothesis,” she advised CNBC’s “Road Indicators Asia” on Nov. 5. “Both potential administrations would deliver a rise in infrastructure spending and inflation stays a priority.”

Trying previous the election consequence, McFaddin named three shares she likes proper now.

CNBC Professional subscribers can learn extra right here.

— Amala Balakrishner

Buyers ought to promote a possible rally available in the market if Trump wins the election, based on Citi’s Scott Chronert.

“Your place to begin is a reasonably prolonged valuation circumstance that is predicated on very sturdy earnings progress follow-through into 2025,” the financial institution’s U.S. fairness strategist advised CNBC’s “Squawk on the Road” on Tuesday. “Our concern is that with that arrange, you go right into a Trump win and also you introduce tariffs into the dialogue … [and] 2025 progress expectations turn into a bit extra suspect as we navigate tariff motion.”

However, if Harris is victorious, Chronert mentioned buyers ought to take into account shopping for an anticipated market dip. 

“It actually comes right down to Trump and tariffs, and Harris and taxes,” he mentioned.

— Sean Conlon

A second Trump administration is extra prone to deliver volatility to the oil market, based on Goldman Sachs.

Donald Trump might tighten sanctions on Iran, lowering provide from the Islamic Republic and placing upward stress on costs within the brief time period, the funding financial institution advised purchasers in a Monday notice.

Oil costs rose about 1% as voters within the U.S. headed to the polls. U.S. crude oil had gained 35 cents, or 0.49%, to $71.82 per barrel by 8:56 a.m. ET. World benchmark Brent crude futures added 33 cents, or 0.44%, to $75.41 per barrel.

“Conceptually, the influence of a possible second Trump time period on oil costs is ambiguous,” Yulia Zhestkova Grigsby, vice chairman of commodity analysis at Goldman Sachs, advised purchasers in a notice Monday.

Over the medium time period, nevertheless, a second Trump administration might heighten commerce tensions by way of tariffs, placing downward stress on world oil demand and costs, based on Goldman.

— Spencer Kimball

Two shares have outperformed the S&P 500 each November when elections have been held over the previous three many years — whatever the end result, based on a CNBC Professional research.

CNBC Professional screened for shares at the moment within the MSCI World Index that gained greater than the S&P 500 — or misplaced lower than the index — in November of each election 12 months since 1988. The 36-year interval has seen 4 Republicans and 5 Democrats elected to the White Home.

CNBC Professional subscribers can learn extra concerning the two shares right here.

— Ganesh Rao

European markets are anticipated to open decrease Wednesday.

The U.Ok.’s FTSE 100 index is predicted to open 8 factors decrease at 8,167, Germany’s DAX down 65 factors at 19,189, France’s CAC down 22 factors at 7,383 and Italy’s FTSE MIB down 134 factors at 34,098, based on knowledge from IG.

Earnings come from Novo Nordisk, Skanska, Lundin Petroleum, Ahold Delhaize, PUMA, Credit score Agricole, Pandora, Commerzbank, Henkel and Enel, amongst others.

— Holly Ellyatt