European shares were flat in early trade on Wednesday, as gains led by healthcare stocks following drugmaker Novo Nordisk’s strong earnings were countered by losses in technology stocks.
The pan-European STOXX 600 index was down 0.07% as of 0810 GMT.
Novo Nordisk jumped 4.5% after the Wegovy maker posted a better-than-expected fourth-quarter profit of $4.4 billion.
Healthcare was up 1.2%. Shares of GSK rose 6.3% after the British drugmaker lifted its 2031 sales target after beating fourth-quarter earning estimates.
European shares rise with earnings in focus
Technology stocks were a drag, down 0.9%, with chip equipment maker ASML slipping 1.3%, after Advanced Micro Devices’ quarterly earnings failed to impress investors.
The automobiles sub-index dropped 1.1%, dragged down by shares of automaker Renault falling 2.6%.
The day was also brimmed with key indicators, including HCOB’s January final composite PMI data for the euro zone, Germany and other major economies in the bloc.
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