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

EU denies picking on US tech giants, says US also tackling monopolisation

EU denies picking on US tech giants, says US also…

Posted by March 7, 2025

BRUSSELS (Reuters) - Europe's new tech rule aims to keep digital markets

Read More

€450M to drive green data infrastructure, the next startup hub, and key trends and investment in February

€450M to drive green data infrastructure, the next startup hub,…

Posted by March 7, 2025

This week we tracked more than 70 tech funding deals worth over €1.3 billion, and over 5 exits, M&A transactions, rumours, an

Read More

European tech sector poised for stronger 2025, says Monument Group; Dealmaking still stalled, S&P Global | PE Hub

European tech sector poised for stronger 2025, says Monument Group;…

Posted by March 7, 2025

Let’s kick things off with tech! Monument Group’s Zac Williams expects a big spike in European technology deals in 2025, as the region offers more appealing

Read More

Women still marginalised in Europe’s Tech Ecosystem

Women still marginalised in Europe’s Tech Ecosystem

Posted by March 7, 2025

European startups founded or co-founded by women raised €10.2B in 2024 across nearly 2,000 transactions, according to Pitchbook’s latest study. This repr

Read More

Follow Us

Recent post