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European stocks bounced back Tuesday after Russia said it’s withdrawing some troops from the border of Ukraine.
After sliding 1.8% on Monday, the Stoxx Europe 600
SXXP,
rose 1.3% to 466.82. This year the pan-European benchmark has dropped 4%, outperforming the S&P 500 which has dropped 8%.
Of the major regional indexes, the German DAX
DAX,
gained 1.7%, the French CAC 40
PX1,
increased 1.3% and the U.K. FTSE 100
UKX,
increased 0.9%.
Most sectors advanced, with healthcare shares in particular seeing strength as AstraZeneca
AZN,
rose 5% and Novo Nordisk
NOVO.B,
rose 3%, though energy companies including Equinor
EQNR,
and TechnipFMC
FTI,
slumped as oil prices retreated.
AstraZeneca reported a positive late-stage trial for a prostate cancer drug.
