European stocks fall as ceasefire optimism fades; Novo shares jump
A statue of a bear stands outside the Frankfurt Stock Exchange in Frankfurt, Germany.
Florian Wiegand | Getty Images
European stock markets closed lower on Friday due to uncertainty surrounding U.S.-Iran peace talks, impacting investor sentiment.
The pan-European Stoxx 600 index ended the day down by 0.6%, with technology stocks rising by 1.4% and mining stocks falling by 1.7%.
Novo Nordisk saw a more than 5% increase in its stock price following positive prescription data compared to its competitor Eli Lilly.
Shares of SAP surged by 4.7% after the company reported a significant rise in operating profits and cloud revenues.
Renault shares declined by 3.6% after the carmaker reported lower first-quarter sales compared to the previous year.
Oil prices edged higher amid ongoing tensions in the Middle East, with Brent crude futures reaching $105.65 a barrel.
Corporate earnings updates from companies like Eni, Orange, and Volvo were closely watched by investors alongside economic indicators from the UK and Germany.
UK retail sales exceeded expectations in March, while the Ifo Institute’s business climate index in Germany fell to its lowest level since the start of the Covid-19 pandemic.
