European markets open higher in shortened session ahead of Christmas; Novo Nordisk resumes recovery

 

The entrance of the London Stock Exchange Group (LSEG) building, in London, United Kingdom, on December 8, 2024 (Photo by Manuel Romano/NurPhoto via Getty Images)
The entrance of the London Stock Exchange Group building on Dec. 8, 2024.
Manuel Romano | Nurphoto | Getty Images

European markets opened higher on Tuesday, in a shortened trading session for Christmas Eve.

At the opening bell, the pan-European Stoxx 600 was up by around 0.3%, with all sectors in positive territory. Tech stocks were among those leading the gains, following a strong trading session on Monday for U.S.-listed technology shares.

European markets

TICKER COMPANY PRICE CHANGE %CHANGE 
.FTSE
FTSE 1008145.0642.340.52
.GDAXI
DAX19848.77-35.98-0.18
.FCHI
CAC 40 Index7310.9438.620.53
.FTMIB
FTSE MIB33739.9-26.39-0.08
.IBEX
IBEX 35 Idx11451.916.20.14

Stocks in Europe ended Monday’s session slightly higher, as investors reacted to more disappointing economic news out of the U.K., and the Stoxx 600 was lifted by a recovery in the share price of pharmaceuticals giant Novo Nordisk.

Novo Nordisk resumed its rally on Tuesday, rising to the top of the Stoxx 600 during early deals and adding 5.7% by 8:09 a.m. London time. Shares of the Danish pharmaceuticals giant were recovering from last week’s major sell-off, which followed disappointing results from the trial of its CagriSema weight loss drug.

There is no economic data expected out of Europe on Tuesday.

Overnight in Asia, stocks were in mixed territory as investors monitored the monetary policy outlook in Japan, the blockbuster merger between autos giants Honda and Nissan and faltering consumer confidence in South Korea.

Trading is expected to be muted across the globe this week as multiple markets close early onTuesday and will remain shuttered on Wednesday for Christmas Day.

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