European shares flat as tech losses counter healthcare boost

Posted by February 5, 2025 Tech
European shares flat as tech losses counter healthcare boost

European shares were flat in early trade on Wednesday, as gains led by healthcare stocks following drugmaker Novo Nordisk‘s strong earnings were countered by losses in technology stocks.

The pan-European STOXX 600 index was down 0.07% as of 0810 GMT.

Novo Nordisk jumped 4.5% after the Wegovy maker posted a better-than-expected fourth-quarter profit of $4.4 billion.

Healthcare was up 1.2%. Shares of GSK rose 6.3% after the British drugmaker lifted its 2031 sales target after beating fourth-quarter earning estimates.

Technology stocks were a drag, down 0.9%, with chip equipment maker ASML slipping 1.3%, after Advanced Micro Devices’ quarterly earnings failed to impress investors.


The automobiles sub-index dropped 1.1%, dragged down by shares of automaker Renault falling 2.6%. The day was also brimmed with key indicators, including HCOB’s January final composite PMI data for the euro zone, Germany and other major economies in the bloc.

Related

Cherry Ventures raises a new 0M fund for early stage and beyond, but will it be enough? | TechCrunch

Cherry Ventures raises a new $500M fund for early stage…

Posted by February 5, 2025

It’s sometimes said that European VC doesn’t have the firepower to compete with VCs in the U.S., which regularly raise billion-dollar+ funds these days. Pe

Read More

Will DeepSeek give European tech firms a boost? – New Electronics

Will DeepSeek give European tech firms a boost? – New…

Posted by February 5, 2025

While the US administration has described this development as alarming and a ‘wake up call’ for US tech firms it could bene

Read More

Amdax launches Novelist for simplified crypto asset management

Amdax launches Novelist for simplified crypto asset management

Posted by February 5, 2025

Dutch crypto asset manager Amdax has launched ‘Novelist’ a crypto service provider to make managed crypto investing accessible to t

Read More

Swiss manufacturing automation company SAEKI raises .7M

Swiss manufacturing automation company SAEKI raises $6.7M

Posted by February 5, 2025

Today Swiss manufacturing automation company SAEKI has raised $6.7 million in funding, bringing its funding to over $8 million. With g

Read More

Follow Us

Recent post