Stock Movers Orsted Soars, Diageo Rises, ASM Downgraded
Jan 13, 2026
Chloe Millay, a Bloomberg reporter specializing in European markets, dives into some intriguing market movements. She discusses the legal victory for Orsted, allowing the revival of a Rhode Island wind project, a significant win for renewable energy. Additionally, she highlights Diageo's contemplation of selling its China assets due to market challenges. Lastly, Chloe provides insight into Jefferies' downgrade of ASM and VAT, emphasizing the contrasting fortunes of AI chip demand versus the underwhelming industrial semiconductor landscape.
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Court Ruling Gives Renewables A Boost
- A U.S. judge allowed Ørsted to resume work on a Rhode Island wind farm while legal challenges continue.
- The ruling is a wider win for renewables, offering hope to other projects facing federal pushback.
Further Legal Win Could Cement Momentum
- The judge is also considering Ørsted's request to continue work on the Sunrise Wind Project near New York.
- Winning there would be another significant victory for Ørsted and the broader offshore sector.
Diageo Mulls China Asset Sales
- Diageo is exploring options for its China assets, including potential sales to local buyers or private equity.
- Investors reacted positively, viewing divestment as part of a wider portfolio streamlining amid weak demand.