European shares at record peak as tech, healthcare lend support

Posted by January 31, 2025 Tech
European shares at record peak as tech, healthcare lend support

European shares were at a record high on Friday, led by technology and healthcare stocks, even as caution prevailed ahead of the U.S. tariff deadline set by President Donald Trump.

The pan-European STOXX 600 index was up 0.3%, as of 0810 GMT, after the benchmark closed at a record peak on Thursday following the European Central Bank’s interest rate cut and dovish outlook.

Technology added over 1%, boosted by a 6.2% jump in industrial technology group Hexagon after it posted a surprise rise in fourth-quarter operating profit.

Novartis rose 2.4% after the drugmaker posted quarterly adjusted net income well above analyst estimates. Heavyweight healthcare added 0.6%, with sector major Novo Nordisk rising 1.1%.

Capping gains, real estate index dipped 0.7%, with property platform operator Hemnet falling 4.7% after fourth-quarter results.


Investors were also unsettled as they neared Trump’s Feb. 1 deadline, the day when he is expected to issue trade duties on Mexico and Canada. Key economic indicators, including Germany’s preliminary CPI and unemployment figures for January, among others are also expected to take centre stage later in the day.

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