Jerusalem: The European shares were flat today, with gains in heavyweight healthcare stocks offsetting the decline in the broader market, as investors fretted over a potential delay in the closely-watched US jobs data. The pan-European STOXX 600 (.STOXX), opens new tab held steady at 557.9 points, after posting its third successive monthly gain in September. Local bourses were mixed. Germany’s DAX was down 0.5%, while the UK’s FTSE 100 climbed 0.2% to an all-time high. Healthcare stocks jumped 2.7%, and Novartis gained 2.8%.
According to Oman News Agency, the healthcare sector was a significant contributor to the stability in European shares. The rise in healthcare stocks, particularly Novartis, which saw a 2.8% increase, helped balance out the broader market’s decline. This comes amidst investor concerns about a potential delay in the release of US jobs data, a key economic indicator that can influence global markets.
Investors are keeping a close eye on the US jobs data, as any delay or unexpected result could have implications for market trends. The mixed performance of local bourses, with Germany’s DAX falling and the UK’s FTSE 100 reaching a new high, reflects the cautious sentiment among investors. The consistent performance of the STOXX 600 indicates a level of resilience in the European market, driven in part by the robust healthcare sector.