European Equities Recover, Pharma Sector Takes the Lead

2025-10-01 09:29 By Joana Taborda 1 min. read

The STOXX 50 hovered near the flatline on Wednesday, while the STOXX 600 advanced 0.4%, attempting to start Q4 on firmer footing after a soft opening.

Pharmaceuticals led gains, with Novo Nordisk (+3.7%), Novartis (+2.4%), AstraZeneca (+6.2%), Roche (+5.1%), and Sanofi (+4.1%) rallying on investor relief over tariffs.

The move followed an agreement between Pfizer and the Trump administration allowing patients to purchase discounted prescription drugs through a new federal website.

Still, broader sentiment was capped by concerns over the ongoing US government shutdown.

Banks underperformed, with Unicredit (-1%), Intesa Sanpaolo (-0.6%), BNP Paribas (-0.3%), BBVA (-1%), and Sabadell (-1%) trading lower after a Mexican board member of Sabadell accepted BBVA’s takeover bid.

On the data front, Eurozone inflation edged up to 2.2% in September, in line with expectations, reinforcing the ECB’s cautious stance on further rate cuts.



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