Offshore Wind Farms
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Europe stocks to extend gains ahead of more U.S. jobs data; Orsted cuts outlook
CNBCยท 2025-09-05 06:17
Company Insights - Orsted's shares are expected to open lower after the company revised its full-year earnings guidance to between 24 billion Danish kroner ($3.75 billion) and 27 billion Danish kroner, down from the previous range of 25-28 billion Danish kroner, due to lower-than-normal offshore wind speeds across its portfolio [4] - The company is preparing for a shareholder meeting to seek approval for the next stage in its $9.4 billion rights issue, as it faces political obstructions regarding its U.S. projects [5] - Orsted has announced a lawsuit against the Trump administration in an effort to restart construction on a blocked offshore wind farm in New England [5] Industry Context - European stock markets are anticipated to open higher as investors await a key U.S. jobs report that may influence expectations for a Federal Reserve interest rate cut [1] - The sentiment improved following U.S. payrolls data that increased market bets on a Fed rate cut in September, with a 99% probability indicated by CME's FedWatch tool [2] - Economists forecast the addition of 75,000 jobs in the U.S. for the previous month, which could provide insights into the labor market's softness [3]