Markets Wobble Amid Low Volumes: Novo Nordisk Soars

The STOXX 600 index opened lower at the start of a holiday-shortened week but was cushioned by a spike in Novo Nordisk shares. Despite a 6.3% rise for Novo Nordisk and supportive healthcare stocks, the travel and leisure sectors faced declines. European Central Bank details on inflation were also noted.

The STOXX 600, a key European stock index, experienced a minor decline as it opened at the beginning of a holiday-shortened trading week. Its downturn was partially offset by a significant increase in Novo Nordisk shares following the U.S. FDA's approval of one of its drugs.

The index was down 0.2% by mid-morning due to low trading volumes in the lead-up to Christmas. Travel and leisure, along with media sectors, were notably impacted, while healthcare stocks aided the market amid Novo Nordisk's stellar performance.

Volkswagen saw a dip after early gains despite concluding a deal with unions. Market sentiment was further influenced by European Central Bank President Christine Lagarde indicating closeness to the euro zone's desired inflation target. Meanwhile, Aviva announced plans to acquire Direct Line, causing a rise in the latter's share price.

(With inputs from agencies.)