Industry Rift Widens on Trump as European Stocks Stage Rebound
- Health-care, commodity producers, builders advance the most
- Stoxx Europe 600 Index posts biggest reversal since March
Markets React to Trump's Election Victory
Winners separated from losers as European stocks rallied to their biggest turnaround since March, with health-care providers and miners surging, while utilities and food exporters bore the brunt of selling, following Donald Trump’s victory in the U.S. presidential election.
Drugmakers, the region’s largest sector, jumped the most since 2008, supporting equity benchmarks as Trump won the race to govern the region’s biggest export market. Novo Nordisk A/S and Shire Plc rose more than 4 percent, after investors punished the shares in recent weeks amid disappointing earnings and speculation Hillary Clinton would push for drug-price controls as president. Rio Tinto Group led miners to the biggest gain on the Stoxx Europe 600 Index, as base and precious metal prices jumped.