Major European stock indexes rose on Tuesday, supported by a jump in shares of healthcare giant Novo Nordisk, although gains were limited by concerns about further interest rate hikes by major central banks amid slowing economic growth.
The pan-European STOXX 600 index closed up 0.38% at 461.68 points. The index fell 0.5% on Monday after data pointed to weak business activity in the US, triggering profit-taking after the previous week’s gains.
Healthcare stocks, which are considered defensive, rose 1.2%.
Danish pharmaceutical developer Novo Nordisk jumped 4.1% as trading resumed after a holiday in Copenhagen on Monday. The company said it had entered talks to acquire a controlling stake in medical device design firm Biocorp. The French company’s shares rose 15.7%.
More hawkish, or aggressive inflation-wise comments by European Central Bank (ECB) president Christine Lagarde and Bundesbank president Joachim Nagel solidified expectations of further hikes in central bank interest rates bank in June.
Dutch central bank chief Klaas Knot said underlying price pressures in the euro zone may be harder to tame, but monetary policy is showing signs of effectiveness and further rate hikes need to be made meeting after meeting.
In LONDON, the Financial Times index advanced by 0.37%, to 7,628.10 points.
In FRANKFURT, the DAX index rose by 0.18% to 15,992.44 points.
In PARIS, the CAC-40 index gained 0.11% to 7,209.00 points.
In MILAN, the Ftse/Mib index appreciated by 0.67%, to 27,036.67 points.
In MADRID, the Ibex-35 index increased by 0.23%, to 9,310.80 points.
In LISBON, the PSI20 index appreciated by 0.76%, to 5,933.75 points.
Source: Terra
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