European shares rise as investors buy dips, shrug off US tariff threats

Published on 08/06/2025 at 03:40 am EDT - Modified on 08/06/2025 at 03:42 am EDT
(Reuters) - European shares extended gains on Wednesday as investors bought into recent market weakness, brushing aside fresh U.S. tariff threats and digesting a mixed batch of corporate earnings.
The pan-European STOXX 600 index was up 0.3%, as of 0713 GMT, rising for a third consecutive session after touching a five-week low on Friday.
Germany's blue-chip DAX and France's CAC 40 climbed 0.5% and 0.4%, respectively.
Shares of Commerzbank rose nearly 1% after the German lender posted its quarterly net profit above expectations and raised parts of its full-year outlook.
Siemens Energy said it expects to hit the upper end of its 2025 growth outlook estimates. Shares rose 1.2%.
Swiss President Karin Keller-Sutter was set to meet U.S. Secretary of State Marco Rubio as Switzerland seeks to negotiate the 39% tariff scheduled to take effect on Thursday.
Switzerland's benchmark SMI index edged 0.1% lower.
European healthcare stocks slipped 0.7%, weighed down by a 1.3% drop in heavyweight Novo Nordisk after the Danish drugmaker maintained its full-year outlook, just days after slashing its 2025 sales outlook.
The Wegovy maker said it would cut costs after losing nearly $95 billion in market value last week.
Adding to sector pressures, U.S. President Donald Trump said on Tuesday that Washington would initially place a "small tariff" on pharmaceutical imports, eventually increasing it to 250%.
 (Reporting by Twesha Dikshit and Medha Singh in Bengaluru; Editing by Sherry Jacob-Phillips) 

Sumber : Reuters