European stocks edged up slightly on Tuesday as declines in energy and luxury goods stocks were offset by gains in the healthcare sector. This sector received support from the U.S. Food and Drug Administration's (FDA) approval of weight-loss pills from Novo Nordisk. Trading was weak in most major markets in the region, with little change in London and Paris. Novo Nordisk shares jumped 5.8% after the FDA approved its weight-loss product on Monday, giving the pharmaceutical company a significant competitive edge in the market. By 08:08 GMT, the European Stoxx 600 index rose 0.2% to 587.91.
European Stocks Rise on New Weight-Loss Drug Approval
European stock markets saw a slight rise on Tuesday. The main driver was the healthcare sector, which gained after the FDA approved new weight-loss drugs from Novo Nordisk.