European Healthcare Lifts Markets Amid U.S. Data Concerns
European stocks were stable due to healthcare gains, despite broader market declines over U.S. jobs data delays. The STOXX 600 remained flat, following a rising trend. Pfizer's drug price agreement boosted healthcare stocks. Novartis rose on FDA approval. U.S. payroll data awaited due to government shutdown.
European stocks experienced little change on Wednesday, as advances in the healthcare sector countered a wider market decrease, with investors concerned about a potential postponement of critical U.S. jobs data.
The pan-European STOXX 600 maintained its level at 557.9 points, continuing its upward trajectory observed in September. Local stock market results varied, with Germany's DAX down 0.5% and the UK's FTSE 100 up 0.2%, reaching a new high.
Healthcare stocks surged by 2.7%, influenced by a deal between Pfizer and U.S. President Donald Trump to reduce drug prices. Additionally, Novartis gained 2.8% after receiving FDA approval for a new treatment. Meanwhile, the U.S. is awaiting a private payroll report amid a government shutdown affecting broader economic data release schedules.
(With inputs from agencies.)
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