February 9, 2010 / 1:41 PM / 8 years ago

STOCKS NEWS EUROPE-Bond roadshow, Canada order lift Vestas

Shares in wind turbine maker Vestas (VWS.CO), the global leader in the industry, rise as much as 7.4 percent to 289.80 Danish crowns on news of a planned roadshow for bond investors and a Canadian order, traders say.

“It’s rising on the news that they are going to issue bonds. Some had feared that they would go for an equity capital increase. The bonds plan reduces those fears, says Danske Bank chief trader Mads Zink.

Nordic bank Nordea points to a Canadian order worth about 3 billion euros ($4.1 billion). “It’s a good piece of news which supports our positive view on Vestas,” Nordea says in a note.

Vestas, which is due to report Q4 and full-year 2009 results on Wednesday, pares some gains to trade 6.9 percent higher, nevertheless clearly outpacing the FTSE cleantech energy index .FTET50, which is up 0.9 percent, and the S&P Global Clean Energy Index .SPGTCLEE, which rises 0.5 percent. For more double click on [ID:nDKT004845] [ID:nDKT004846]

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