Brussels, November 04 (QNA) - European stock indices rose at the start of trading on Wednesday, supported by gains in bank and clean energy stocks, following the Democrats' victory in securing majorities in both chambers of the US Congress, amid concerns about tighter oversight of the AI sector.

The pan-European STOXX 600 index rose 0.5 percent, while Italy's FTSE MIB index recorded gains of 1.2 percent.

France's CAC 40 index also rose 0.26 percent, while the UK's FTSE 100 advanced 0.27 percent and Germany's DAX index gained 0.10 percent.

STOXX 600 futures had fallen by as much as 1.4 percent earlier in the session, before recovering following the Democrats' victory in securing majorities in both the US Senate and House of Representatives.

At the sector level, bank stocks rose by more than 2 percent, as investors shifted towards shares of banks focused on domestic markets, after their performance had lagged behind the broader market for most of the year.

Clean energy stocks led the gainers, with Vestas shares rising 5 percent, Orsted shares gaining 7 percent, and Nordex shares climbing 4.7 percent.

Technology stocks recovered from their early losses to rise 0.4 percent, after strong forecasts from US chipmaker Advanced Micro Devices (AMD) helped ease concerns that tighter oversight by Democrats could prompt artificial intelligence companies to exercise greater caution in their spending on this technology. (QNA)