While geopolitical headlines regarding U.S.-Iran negotiations and regional conflict persist, traders are prioritizing company balance sheets. Glencore shares climbed 4.1% after reporting an 86% surge in first-half earnings, while Sandoz jumped 6% on the back of strong biosimilar sales. Heineken also saw gains, rising 2.2% after beating profit forecasts following a significant restructuring effort.
Sector performance remained uneven. Mining stocks led the charge with a 2.3% gain, bolstered by gold prices reaching a one-month high. Conversely, the healthcare sector faced pressure. Novo Nordisk slid 4.3% as investors fixated on manufacturing hurdles for its Wegovy pill and a clinical setback for the obesity drug CagriSema, overshadowing an improved full-year outlook. Meanwhile, Prudential shares fell 6.4% following reports of new Chinese tax levies on offshore insurance policies, a development that also weighed on Asia-focused lenders like HSBC.
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