Feb 1 (Reuters) – European shares edged higher on Wednesday, boosted by gains in Novo Nordisk and other healthcare stocks, with all eyes on the much-anticipated policy decision by the U.S. Federal Reserve later in the day.
The pan-European STOXX 600 (.STOXX) was up 0.3% at 0814 GMT, coming off a 6.7% jump last month – its biggest gain in any January since 2015 – on hopes of better-than-expected corporate earnings and signs of economic resilience.
Danish drug maker Novo Nordisk (NOVOb.CO) rose 2.2%, and led the gains among healthcare stocks (.SXDP), on strong 2023 sales growth expectations.
Sweden’s Husqvarna (HUSQb.ST) jumped 5.5% to the top of the STOXX 600 after the garden equipment and tools maker’s operating loss shrank on an annual basis, helped by an organic sales growth of 8%.
Among other stocks, BMW (BMWG.DE) gained 0.9% after the German automaker raised suggested retail prices for some models sold in China due to higher raw material and logistics costs globally.
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The Fed will announce its rate decision at 1900 GMT, with Chair Jerome Powell’s news conference half an hour later.
Reporting by Ankika Biswas in Bengaluru; Editing by Savio D’Souza
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