Novo Nordisk's Pill Approval Boosts European Healthcare Stocks

European shares saw minimal movement with healthcare stocks rising due to Novo Nordisk's U.S. approval for its weight-loss pill, while consumer shares fell. The STOXX 600 increased slightly amid mostly unchanged major market indices. Energy sector dipped marginally. Anticipation grows for U.S. GDP data in a quiet week for data.

European shares remained mostly steady on Tuesday. Gains in the healthcare sector, influenced by Novo Nordisk's recent U.S. approval for its weight-loss pill, contrasted with declines in consumer-facing shares.

The pan-European STOXX 600 index rose by 0.2% to 587.91 as of 0808 GMT. Key regional markets like London and France remained largely unchanged. Novo Nordisk's share value surged by 5.8% following the U.S. Food and Drug Administration's endorsement of its weight-loss pill, offering the company a crucial edge in the competitive weight management sector.

The healthcare sector saw the most significant gains, up 0.8%, while consumer discretionary stocks, including luxury names like Richemont, dragged the index. The energy sector reversed its four-day trend of advances, slipping by 0.1%. Market participants are eagerly awaiting U.S. GDP figures, anticipated to show continued economic growth, in a week sparse on new data releases.

(With inputs from agencies.)