European shares stayed mostly the same in early trading on Wednesday. This was because healthcare stocks were doing well after the company Novo Nordisk reported strong earnings, but technology stocks were holding them back. The pan-European STOXX 600 index slightly dropped by 0.07% at 0810 GMT. Novo Nordisk’s stock went up by 4.5% after announcing a surprising profit of $4.4 billion for the fourth quarter. Healthcare stocks rose by 1.2% overall.
Shares of GSK, another drug company, jumped by 6.3% after they announced they expect to sell more by 2031, beating expectations for their fourth-quarter earnings. However, technology stocks fell by 0.9%. The chip maker ASML saw its shares go down by 1.3% after AMD’s earnings report didn’t appeal to investors. The automobile sector also faced challenges, dropping by 1.1%, with Renault’s shares falling by 2.6%. Also, the day featured important reports, including HCOB’s final PMI data for January for the eurozone, Germany, and other major economies in the area.
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