European shares rose on Wednesday as investors monitored corporate earnings and diplomatic efforts to end the U.S.-Iran war and reopen the blockaded Strait of Hormuz.
Market Gains
The pan-European STOXX 600 index rose 0.4% to 659.29 by 07:20 GMT. Sentiment was supported as markets awaited signs of progress in the U.S.-Iran negotiations.
U.S. President Donald Trump said his administration had “very good discussions” with Iran during all-day negotiations, fuelling expectations of an imminent end to the five-month conflict.
Corporate Earnings
Novo Nordisk raised its full-year profit and sales outlook but disappointed investors who focused instead on a narrow sales miss for its new Wegovy pill and a trial setback for its next-generation obesity drug CagriSema. Shares of the Danish drugmaker dropped 3.5%.
Sandoz rose 7% after the Swiss generic drug maker reported a 9% jump in second-quarter net sales.
Among others, Siemens Energy gained 3.9% after the energy provider posted record third quarter results on AI data centre boom and Middle East demand.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
