Holiday Trading Session Sees European Markets Open Higher
As the festive season gets underway, European markets kicked off Tuesday’s shortened trading session on a positive note. The pan-European Stoxx 600 index rose by approximately 0.3%, with all sectors experiencing gains. Tech stocks led the charge, building on the momentum from Monday’s strong performance by U.S.-listed technology shares.
Pharmaceuticals Giant Novo Nordisk Leads the Rally
Novo Nordisk, the Danish pharmaceuticals giant, continued its recovery on Tuesday, surging 5.7% by 8:09 a.m. London time. This follows a major sell-off last week, triggered by disappointing results from the trial of its CagriSema weight loss drug. The stock’s resurgence helped lift the Stoxx 600 index, which ended Monday’s session slightly higher despite disappointing economic news from the U.K.
Asian Markets Mixed Amidst Monetary Policy Uncertainty
In Asia, stocks were trading in mixed territory overnight, as investors kept a close eye on Japan’s monetary policy outlook. The blockbuster merger between Honda and Nissan also garnered attention, while faltering consumer confidence in South Korea weighed on markets.
Muted Trading Expected Ahead of Christmas
With multiple markets set to close early on Tuesday and remain shuttered on Wednesday for Christmas Day, trading is expected to be subdued across the globe this week. Investors will be keeping a watchful eye on market developments, despite the reduced activity.
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