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.

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