European stocks closed mostly higher to extend the positive momentum this week on strength in healthcare and luxury brands. The Eurozone's STOXX 50 inched higher to 5,651 and the pan-European STOXX 600 rose 0.5% to 570, both at record highs.
Sanofi, Novo Nordisk, Merck, and UCB rose more than 2%, extending their surge this week after the US Presidential Administration signaled that tariffs on pharmaceutical goods may be less aggressive than feared, while allowing patients to buy discounted prescription drugs through a new federal website.
Luxury giants were also higher as markets assessed consumption in China during their golden week, with LVMH, Kering, and Hermes adding between 4% and 1%. Sentiment was further underpinned by fresh industry alliances—Hitachi teaming up with OpenAI and Fujitsu partnering with Nvidia. The tech sector however, struggled to hold onto gains after a strong rally in the previous session.
Source: Trading Economi
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