Entrance to the London Stock Exchange Group building on December 8, 2024.
Manuel Romano | Nurphoto | Getty Images
European markets finished higher on Tuesday, in a shortened trading day for Christmas Eve.
The pan-European Stoxx 600 temporarily ended the session about 0.2% higher. Technology stocks were among those leading the rise, after a strong trading session on Monday for technology stocks listed on US exchanges.
London’s FTSE 100 and France’s CAC 40 ended the session in positive territory, with sectors around the world posting gains ahead of the Christmas close.
Recovery of Novo Nordisk shares
Novo Nordisk continued its climb on Tuesday, climbing to the top of the Stoxx 600 and adding 5.7% by the closing bell. Shares of the Danish pharmaceutical giant recovered from big sale last weekwhich followed disappointing trial results for its weight loss drug CagriSema.
Elsewhere in European pharmaceuticals, AstraZeneca said Tuesday has voluntarily withdrawn its marketing application in the EU for the treatment of lung cancer datopotamab deruxtecan. The company said the decision, made with co-developer Daiichi Sankyo, was “informed by feedback from the European Medicines Agency’s Committee for Medicinal Products for Human Use.”
Back in September, the disappointing results of the clinical trial on which the application was based slashed AstraZeneca’s share price. The company’s shares were up 0.1% at the end of the Christmas session.
In other business news, Anglo-American is facing legal trouble in Chile after the State Environmental Administration (SMA) submitted four environmental applications against the company on Monday. The company could face up to $17 billion in fines for allegedly failing to comply with environmental permits at the Los Bronces copper mine, according to Google’s 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.
Shares of the mining giant listed on the London Stock Exchange rose by 2%. Mining stocks led gains on the Stoxx 600 on Tuesday, after news agencies Reuters reported China planned to issue a record 3 trillion yuan ($411 billion) worth of government bonds in 2025.
At the bottom of the Stoxx 600 was the British housebuilder Vistry Groupwhose shares fell 16% during the session on Tuesday.
Company revised its guidance for the full year on Tuesday, slashing £50m from its profit outlook. Vistry said it now expects its annual adjusted pre-tax profit to be around £250m, attributing the downward revision to delays in expected transactions and year-end completion.
Shares in Swedish online gambling company Evolution continued their sell-off on Tuesday, after falling to the bottom of the European index on Monday. Last week, the company said it was being investigated by the UK Gambling Commission, after the regulator found that the company’s games were available in Britain through unlicensed operators.
Overnight in Asiastocks were in mixed territory as investors followed suit the outlook for monetary policy in Japana success story the merger of the automotive giants Honda and Nissan and shaken consumer confidence in South Korea.
Trading around the world is expected to be muted this week as more markets close early on Tuesday and will remain closed on Wednesday for Christmas.
