European stock markets were largely muted on Tuesday, as gains in the healthcare sector, led by Novo Nordisk, were balanced by declines in consumer-facing and energy stocks. Investors remained cautious ahead of key U.S. economic data, including third-quarter GDP figures.

Pan-European STOXX 600 Shows Modest Gains

The STOXX 600 index edged up 0.2% to 587.91, reflecting subdued trading across major regional markets. Benchmark indexes in London (FTSE) and France (CAC 40) saw little movement, highlighting a cautious market sentiment.

Novo Nordisk Drives Healthcare Sector

Shares of Novo Nordisk (NOVOb.CO) surged 5.8% following U.S. FDA approval of its new weight-loss pill, giving the Danish pharmaceutical company a competitive edge in the growing weight management market.

The broader healthcare sector (SXDP) jumped 0.8%, the largest gain among all sectors, as investors responded positively to Novo Nordisk’s regulatory approval.

Consumer and Energy Stocks Offset Gains

Consumer discretionary stocks, particularly luxury brands like Richemont (CFR.S), weighed on the index, reflecting selective weakness in consumer spending.

The energy sector (SXEP) slipped 0.1%, after recording four consecutive sessions of gains, showing a modest pullback in oil and energy-related shares.

Investors Focus on U.S. GDP Data

Market attention remains on the upcoming U.S. third-quarter GDP figures, expected to show continued robust growth. With relatively few other economic releases this week, investors are closely watching global and U.S. data to gauge potential market movements.

Conclusion: Mixed Sentiment in European Markets

Overall, European shares remain range-bound, as sector-specific gains in healthcare are tempered by weakness in consumer discretionary and energy stocks. Investors are taking a cautious approach ahead of major U.S. economic announcements, signaling a potentially volatile week ahead for global equity markets.