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The entrance to the London Stock Exchange Group building on December 8, 2024.
Manuel Roman | Nurfoto | Getty Images
European markets traded higher on Tuesday, in a shortened trading session for Christmas Eve.
The Pan-European Stoxx 600 was up about 0.3% during morning sessions, with all sectors in positive territory. Technology stocks were among those leading gains, after a strong trading session on Monday for US-listed technology stocks.
Novo Nordisk resumed its rally on Tuesday, climbing to the top of the Stoxx 600 during early business and adding 5.7% at 11:05 am London time. Shares of the Danish pharmaceutical giant were recovering the biggest sale of the past weekfollowing disappointing results from the trial of his weight loss drug CagriSema.
Elsewhere in European pharmaceuticals, AstraZeneca said Tuesday had voluntarily withdrawn its marketing application in the EU for the treatment of lung cancer Datopotamab deruxtecan. The company said the decision, made alongside co-developer Daiichi Sankyo, “was informed by feedback from the European Medicines Agency’s Committee for Medicinal Products for Human Use.”
Back in September, disappointing results from the clinical trial on which the application was based AstraZeneca’s share price plummeted. The company’s shares were last up 0.4% at 11:06 am London time.
In other business news, American English facing legal problems in Chile after the country’s Environment Superintendence (SMA). filed four environmental charges against the company on Monday. The firm could face a fine of up to $17 billion for alleged non-compliance with environmental permits at its Los Bronces copper mine, according to a Google translation of the SMA statement.
In an emailed statement, an Anglo-American spokesman said the mine was operating normally and the company was working with the Chilean regulator to ensure compliance.
London shares of the mining giant were 1% higher at 11:06 am London time.
At the bottom of the Stoxx 600 was a British builder Vistry Groupthat shares fell 16%.
The company revised its guidance throughout the year on Tuesday, trimming £50 million from its profit outlook. Vistry said it now expects its full-year adjusted pre-tax profit to come in at around £250m, attributing the revision to the decline to delays to transactions and year-end expectations.
Shares of Swedish online gaming company Evolution continued their selloff on Tuesday, after falling to the bottom of the European index on Monday. Last week, the company said it was being reviewed by the UK Gambling Commission, after the regulator discovered that the company’s games were accessible in Britain through unlicensed operators.
No economic data is expected out of Europe on Tuesday.
Night in AsiaStocks were in mixed territory as investors monitored the monetary policy outlook in Japanthe blockbuster merger between auto giants Honda and Nissan and consumer confidence in South Korea.
Trading is expected to be muted across the globe this week as many markets close early on Tuesday and remain closed on Wednesday for Christmas Day.