European Stocks Inch Higher Amid Shutdown Speculations
European shares edged up as gains in healthcare and luxury stocks outweighed declines in banks and energy. Investors focused on potential U.S. government shutdown impacts. Healthcare stocks soared, driven by news on executive changes and market moves. Meanwhile, imminent U.S. labor data releases face uncertainty amidst looming political negotiations.
European shares concluded with slight increases on Monday, as strengths in healthcare and luxury stocks counteracted weaknesses in banks and energy sectors. Investors keenly weighed the potential fallout of a U.S. government shutdown, raising concerns over delayed economic data releases that could impact market strategies.
The pan-European STOXX 600 gained 0.2%, a modest rise from a static close last week. Notable movements included UCB's surge to a record high following mixed results from MoonLake Immunotherapeutics' drug study. GSK climbed 2.2% after announcing CEO Emma Walmsley's departure, a move that will see insider Luke Miels at the helm in January.
A meeting between U.S. President Donald Trump and congressional leaders seeks to avert a government shutdown, with the absence of resolution threatening delays to critical labor market data. Yet, markets seemingly bet on a swift agreement, crucial for future Federal Reserve policy directions.
(With inputs from agencies.)
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