The main European stock markets closed on Tuesday (25/6), after the deterioration of the situation in the American markets at the beginning of the week.
In particular, the pan-European Stoxx 600 index fell by 0.31% and closed at 517.26 points, with most sectors and the main stock market diverging. Industrials fell 1.6%, while oil and gas rose 0.44%.
In Germany the DAX recorded losses of 0.94% to 18,169.95 points, in Britain the FTSE 100 fell by 0.41% to 8,247.94 points, in France the CAC 40 fell by 0.58% to 7,662.30 points, in Spain the IBEX 0.105, in Spain 0.101. points and in Italy the FTSE MIB decreased by 0.39% to 33,942.50 points.
Meanwhile, Novo Nordisk shares rose 3.7 percent after the company said weight loss treatment Wegovy was approved in China for long-term weight management. Shares in Zealand Pharma, which makes its own rival weight loss drug, also rose 8.8%.
Airbus shares, meanwhile, fell 9.65% on Tuesday after the company said it was cutting targets for 2024, including aircraft deliveries and revenue.
But for the most part, in Europe on Tuesday, there were no significant gains. Spain’s gross domestic product data is the main economic release.
Also of note, US investors on Monday (24/6) sold Big Tech stocks in favor of banking and energy companies, as chipmaker Nvidia fell for the third session in a row. However, the beloved tech company rebounded on Tuesday leading the S&P 500 and Nasdaq Composite higher in the first transactions.
Finally, Asia-Pacific markets led the rise overnight, with traders assessing South Korea’s consumer sentiment index for June, as well as Japan’s service producer prices.