European Markets Open Higher Ahead Of Christmas

European stock markets started Tuesday on a positive note, recovering some of Monday’s losses. The pan-European Stoxx 600 index rose 0.2% at the opening, after ending the previous session slightly lower.

Major markets showed small gains:

• Germany’s DAX was up 0.11%

• Italy’s FTSE MIB gained 0.14%

• Spain’s IBEX 35 rose 0.04%

• France’s CAC 40 slipped 0.10%

• UK’s FTSE 100 was mostly flat

Despite Monday’s dip, the Stoxx 600 is still up 14% this year and is on track for its third straight year of gains, with one week left in 2025.

Investors are closely watching Novo Nordisk, after the company received U.S. FDA approval for the first-ever GLP-1 weight-loss pill. This gave the Danish drugmaker an edge over rival Eli Lilly. Novo Nordisk shares jumped 6% early Tuesday.

French biotech firm Abivax continued its strong run, rising another 4%, after gaining over 15% on Monday. It has been one of Europe’s best-performing stocks this year.

Meanwhile, Orsted, the Danish renewable energy company, remained under pressure. Its shares fell 1.7% after news that the U.S. government suspended leases for several offshore wind projects.

Markets are also waiting for Spain’s GDP data, expected later Tuesday.

In Asia-Pacific, most markets traded higher, following strong gains on Wall Street driven by AI-related stocks. U.S. stock futures were mostly flat as trading continued in a shortened holiday week.