FRANKFURT (dpa-AFX) - Shares of SMA Solar surged to their highest level since March on Wednesday morning, breaking through a key technical barrier. The solar supplier's stock jumped 9.5 percent to €23.26, now eyeing this year's high of €24.70. Shares of wind energy group Nordex also rebounded by as much as 3.5 percent, though they stalled at their 50-day moving average.
Market participants pointed to positive signals from the United States. According to reports, reductions in claims under the Inflation Reduction Act (IRA) will be less severe than initially feared following a decision by the US Senate. Notably, there is now a twelve-month window for new projects. The draft still requires approval from the US House of Representatives. Previous plans had been seen as a serious threat to the wind and solar industries./ag/mis
