European shares gain on softer US Iran sanctions, falling oil prices
The healthcare sector advanced the most
European shares climbed on Tuesday (August 25) as investors found reassurance in a milder US sanctions package targeting Iran and declining oil prices. The benchmark Stoxx 600 index rose 0.35% to 656.48 points, nearing its record high from earlier in the month. Healthcare stocks led the gains, with Novo Nordisk and Zealand Pharma surging 2.9% and 5.6%, respectively.
Industrials also experienced gains, climbing 1.1% as Melrose Industries rose 10.4% after announcing a production resumption timeline. Despite concerns over a potential shock from higher gas prices, a stronger-than-expected German GDP growth and increasing business confidence provided some optimism for the economy. However, luxury and tech stocks faced slight declines, with Kering and Nvidia's upcoming results facing skepticism.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Iran vows to fight back against latest US sanctions sabcnews.com
- China vows to protect Iran ties after US sanctions threat hellenicshippingnews.com
- Oil prices rise as US threatens wider sanctions on Iran’s trading partners arabianbusiness.com
- 'Will defend interests': China puts US on notice after new sanctions on Iran timesofindia.indiatimes.com
- European shares gain on softer US Iran sanctions, falling oil prices investing.com
