European stocks were higher on Friday as regional markets reopened after a Christmas holiday break.
Pan-European Stoke 600 The index was up nearly 0.4% as of 1:26 p.m. London time, with most sectors and major exchanges in positive territory.
Healthcare stocks rose on Friday, with Novo Nordisk shares rising 2%. The Danish pharmaceutical giant continues to recover from a sharp sell-off last week that saw its shares plunge 20% in a single day.
Shares in tanker company Frontline also rose on Friday, rising 3% as of 11:47 a.m. London time. It comes as oil prices are expected to rise every week and the World Bank upgrades its economic growth forecast for China, the world’s top oil importer, amid Beijing’s pledge of more fiscal stimulus.
Norwegian oil and gas company Vaar Energi was also up 3.2% on the Stoxx 600, while Finnish fuel producer Neste topped the index with a 4.4% gain as of 1:30 pm London time.
Meanwhile, shares in Swedish online bookmaker Evolution rose around 3.7%, recovering from losses earlier in the week. subject to review Punished by the UK Gambling Commission for links to unlicensed operators.
At the other end of the index, delivery hero Shares fell more than 4% after Taiwan’s antitrust regulator announced Wednesday blocked Uber offered $950 million to acquire the company’s Foodpanda business.
Elsewhere, investors are watching economic data from China, with official data showing industrial profits in the world’s second-largest economy shrank for a fourth straight month in November.
The data came a day after the World Bank raised its growth forecast for China in 2024 and 2025 but warned that the economy would remain under pressure given sluggish business confidence and continued uncertainty over China’s troubled real estate sector.
Asian markets were mixed overnight as traders reacted to the latest data from China and recent inflation data from Japan. exist Friday updateOfficial data showed that Tokyo’s core inflation rate was 3% in November, up from 2.6% in October.
Back in Europe, German President Frank-Walter Steinmeier dissolved the country’s parliament on Friday, paving the way for February elections after Chancellor Olaf Scholz’s coalition government was ousted earlier this month. . germany yield rate 10-Year Treasury Bond As of 1:36 pm in London, the index was up 5 basis points at 2.384% – its highest level in a month.
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