European stocks edged higher on Tuesday, with the STOXX 50 up 0.1% and the STOXX 600 gaining 0.3% to reach a fresh record high, rebounding after a mildly negative session the previous day. The advance was led by the pharmaceutical sector.
Shares of Novo Nordisk surged nearly 6% after the company received approval from the US Food and Drug Administration to market an oral version of its obesity treatment, Wegovy, in the US. Other major drugmakers also posted gains, with AstraZeneca rising 0.8%, Novartis adding 0.7%, and Roche up 0.6%.
Defensive sectors, including telecommunications and financial services, also contributed to the broader market strength. On the other hand, the luxury sector was under pressure, including LVMH (-0.1%), Hermes (-0.%), and Kering (-0.4%)
Source: Trading Economi
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