The European stock markets closed higher in Wednesday trading as the Stoxx Europe gained 1.06%, Germany's DAX rose 0.98%, the FTSE 100 advanced 0.85%, France's CAC was up 0.88%, and the Swiss Market Index increased 0.40%.

The European Central Bank reported in its Financial Stability Review for November that uncertainties around trade agreements," as well as the economic and financial effects of tariffs, "continue to shape the euro area financial stability landscape."

The ECB said exposure to tariff-sensitive firms and stronger funding ties with non-banks could strain euro area banks during times of economic stress or market stress. However, it also reported that the Euro area banking sector is resilient.

It also said that valuations in increasingly concentrated asset markets, the rising risk of sharp price adjustments, and fiscal challenges for some advanced economies "could test investor confidence."

"Measures of trade policy uncertainty have eased notably from their April highs, but uncertainty continues to linger, with potential for renewed spikes," ECB Vice President Luis de Guindos said in a statement.

And in corporate news, Novo Nordisk said Wednesday it has submitted a supplemental new drug application to the Food and Drug Administration for a higher dose semaglutide injection of 7.2 milligrams to be used in combination with a reduced calorie diet and increased physical activity for chronic weight management in adults with obesity.

The company said it expects a review within one or two months following the FDA's acceptance of the filing.

Shares of the Danish pharmaceutical giant rose nearly 5% in Copenhagen.

BioNTech said Wednesday that CureVac shareholders approved matters related to BioNTech's exchange offer at an extraordinary general meeting, with 99.16% voting in favor of the proposals.

The exchange ratio has been set at 0.05363 of a BioNTech American depository share for each CureVac share, based on the 10-day volume-weighted average price of BioNTech ADSs through Nov. 25, 2025, the company said.

BioNTech said it expects to complete the offer as soon as practicable.

Shares of the German biotech firm rose 1.3% in Frankfurt.

Ascendis Pharma said late Tuesday that the US Food & Drug Administration has extended the review period for its TransCon CNP drug candidate to treat children with achondroplasia, which causes dwarfism, by three months to Feb. 28, 2026.

The FDA notified the company that its submission related to post-marketing requirements constituted a major amendment to the previously submitted new drug application, Ascendis said.

Ascendis shares do not trade on European markets.

Source : MT Newswires