European shares eke out gains at open as healthcare stocks rebound



(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Aug 12 (Reuters) - European shares eked out gains on Friday at the open after Sanofi and GSK led a rebound in healthcare stocks, with the main STOXX 600 index set for weekly gains.

Sanofi SASY.PA rose 1.6% and GSK GSK.L added 3.0% after a heavy selloff in the previous session on growing worries about U.S. litigation focused on a heartburn drug that contained a probable carcinogen.

JPMorgan said it sees a stronger buying opportunity for Sanofi versus GSK, adding Sanofi would not be liable for any litigation damages.

The European healthcare sector .SXDP gained 0.4%, while the STOXX 600 index .STOXX rose 0.1%.

The main index rose for the second straight day and was set to notch up weekly gains of 1% as a softer-than-expected U.S. inflation reading calmed nerves around the Federal Reserve's monetary policy tightening cycle.
Reporting by Shreyashi Sanyal in Bengaluru Editing by Saumyadeb Chakrabarty

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.