European Shares Rise Amid Novo Nordisk's Heart-Health Drug Success
European stocks slightly increased as healthcare shares, notably Novo Nordisk, boosted the market after its drug Wegovy showed superior heart-protective benefits compared to Eli Lilly's treatments. The STOXX 600 index rose, with healthcare stocks performing well. Defense stocks also gained due to a military acquisition deal involving Britain and Norway.
European shares edged higher on Monday, buoyed by gains in healthcare stocks following positive data on Novo Nordisk's weight-loss drug, Wegovy. The drug showed superior heart-protective benefits compared to Eli Lilly's treatments, pushing the pan-European STOXX 600 index up 0.26% as of early morning trading.
Novo Nordisk's shares climbed 3.1% after announcing that Wegovy reduced the risk of heart attack, stroke, or death by 57% in comparison to Eli Lilly's medicines Mounjaro and Zepbound. Defense stocks also saw gains, with BAE Systems rising 2% after Norway selected Britain as a strategic partner for a major new frigate acquisition worth approximately 10 billion pounds.
In the U.S., a court ruled largely against President Donald Trump's tariffs but allowed them to stay temporarily pending appeals. Trading volumes were anticipated to be low due to a U.S. holiday, leaving a quieter trading day on the other side of the Atlantic.
(With inputs from agencies.)
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