European Stocks Subdued as HSBC and Novo Nordisk Lead Declines

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessEuropean Stocks Subdued as HSBC and Novo Nordisk Lead DeclinesEuropean stocks traded steady near a record high as falls in HSBC Holdings Plc and Novo Nordisk A/S helped erase early gains.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.rgfs0238xol9e0)spjs(491w_media_dl_1.png Bloomberg(Bloomberg) — European stocks traded steady near a record high as falls in HSBC Holdings Plc and Novo Nordisk A/S helped erase early gains. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Stoxx Europe 600 Index was little changed by the close after earlier rising as much as 0.5%. Oil declined in choppy trading, as Iran said an agreement with Oman had been reached on a proposed route for shipping through the Strait of Hormuz.HSBC shares fell 4.7% following broker downgrades and a report that China has expanded its personal income tax to include any returns from insurance policies in Hong Kong. Prudential Plc dropped 6.4%.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againNovo declined 4.3% after sales of the new Wegovy weight-loss pill failed to top analysts’ expectations. On the other hand, Heineken NV climbed 2.2% after volumes grew more than expected. Glencore Plc rose 4.1% after higher prices for its most important commodities drove a sharp increase in profits.A strong earnings season has helped propel European shares to record highs. More than half of MSCI Europe companies reporting so far have beaten estimates, while profits have risen more than 16%. Even so, the benchmark has now slipped behind its US peers this year. “Europe has had a good run so far thanks to overall good results and strong EPS progression,” said Andrea Gabellone, head of global equities at KBC Securities. He cautioned that full-year numbers remain vulnerable, given the region’s heavy exposure to energy earnings. For more on equity markets:Reset Clears Way for Tech to Drive Risk-On Revival: Taking StockM&A Watch Asia: Abercrombie, Continental, Life InsuranceUS Stock Futures Rise; Digital Turbine, Compass GainAnother BP Sale: The London RushYou want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here.—With assistance from Julien Ponthus and Sagarika Jaisinghani.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.