European stocks inched higher on Wednesday, supported by strong performances in the healthcare and financial sectors, with attention on the global monetary policy outlook for the New Year.
The pan-European STOXX 600 rose by 0.2% at 0821 GMT, approaching its highest level in three weeks.
The financial services sector was one of the top performers, gaining 1.1%, with EQT (ST:EQTAB) up 2.6% following Deutsche Bank’s (ETR:DBKGn) upgrade of the investment company from “hold” to “buy.”
Healthcare stocks increased by 0.4%, with Novo Nordisk (NYSE:NVO), a major index component, climbing 1.6%, while banks saw a 0.8% rise, with HSBC up 1.2%.
However, gains were limited as the yield on Germany’s 10-year bond, a key regional benchmark, eased slightly but remained near its highest level in two months.
Global government bond yields rose in line with U.S. Treasuries, after data released on Tuesday raised concerns that the Federal Reserve could slow its pace of policy easing.
Pluxee rose 10.1% after the French voucher and benefits company reported 12.1% organic growth in its first-quarter operating revenue, surpassing market expectations.
Meanwhile, Shell (LON:SHEL) dropped 1.8% after the energy giant lowered its liquefied natural gas production outlook for the fourth quarter.
