Maersk shares are among the few positives in an otherwise red Danish stock market on Tuesday afternoon, with energy company Ørsted and wind turbine manufacturer Vestas continuing their downwards movements.

European markets are generally not getting the same positive impact from the current focus on the US presidential election that the US markets are experiencing as Donald Trump increasingly appears to be the favorite to take over the White House.

The C25 index fell 0.5% to 1953.92 in late morning trading, following a heavy 1.8% drop on Monday.

Ørsted is down 2.8% on Tuesday afternoon, while Vestas is down 1.9%, following a Monday where both shares fell over 6%.

But it may be an exaggerated reaction that the shares in Vestas and especially Ørsted have been sent down sharply in recent days.

This is according to industry media outlet Recharge News, citing comments from research firm Morningstar.

The former president has previously said that if he is re-elected president, he will try to stop all ongoing offshore wind projects on his first day in office.

But Ørsted already has a 130 MW project in operation and two projects with a capacity of well over 1 GW in development, and since the two projects have already been approved by the authorities, Donald Trump cannot stop them with an executive order, according to Morningstar analysts at Recharge News.

However, there will be resistance to the development of additional capacity, the brokerage also acknowledges.

”Ørsted and other offshore wind developers faced significant delays to approvals during his previous tenure. These delays – coupled with rising costs and interest rates – led to large write-downs and canceled projects in 2023,” says Tancrede Fulop, an analyst at Morningstar, according to Recharge News.

(English edit by Christian Radich Hoffman)