European stocks rise as Novo Nordisk lifts healthcare on Wegovy data

Published on 09/01/2025 at 03:36 am EDT - Modified on 09/01/2025 at 03:37 am EDT
(Reuters) - European shares edge higher on Monday, supported by healthcare stocks after data showed Danish drugmaker Novo Nordisk's weight-loss drug Wegovy offered better heart-protective benefits than rival treatments from U.S.-based Eli Lilly.
The pan-European STOXX 600 was up 0.26% at 551.56, as of 0713 GMT, following its first weekly loss in four on Friday.
Healthcare stocks were among top sectoral performers.
Shares of Novo Nordisk, the fourth-largest healthcare company on the STOXX index, climbed 3.1% after the company said Wegovy cut the risk of heart attack, stroke or death by 57% versus Eli Lilly's rival medicines Mounjaro and Zepbound in a real-world comparison.
Defence stocks gained 1.2%, with Britain's BAE Systems up 2%, as Norway said it had chosen Britain as its strategic partner for the acquisition of new frigates, in a deal worth some 10 billion pounds ($13.51 billion).
On the other side of the Atlantic, a U.S. appeals court ruled on Friday that most of U.S. President Donald Trump's tariffs are illegal, although allowed them to remain in place until mid-October to permit further appeals.
Trading is expected to be light throughout the day due to a U.S. holiday.
( Reporting by Tristan Veyet in Gdansk and Johann M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips )

Sumber : Reuters