(Reuters) – European shares rose on Monday, aided by healthcare, with investors awaiting a slew of data throughout the week for clarity on the economic outlook as major central banks talk up restrictive monetary policies.
The pan-European STOXX 600 rose 0.6% by 0810 GMT, after clocking its steepest one-day drop of 1% in three weeks on Friday.
Focus now lies on key inflation data, including that of the U.S. and the eurozone due later this week, while markets appeared to look past Moody’s decision to lower its outlook on the U.S. credit rating to “negative” from “stable”.
Among major stocks, Novo Nordisk jumped 3.9%, aiding a 1.2% gain in the healthcare sector after data showed heart-protective benefits of its wildly popular Wegovy obesity treatment are due to more than weight loss alone.
Britain’s Phoenix Group soared 7.4% to top the STOXX 600 after raising the full-year cash generation forecast, while Technip Energies dropped 2.4% after Barclays downgraded the stock to “underweight” from “overweight”.
(Reporting by Ankika Biswas in Bengaluru; editing by Eileen Soreng)
