European shares rise as Inditex leads retailers, Novo Nordisk shines
10/09/2025 08:03
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Sept 10 (Reuters) - European shares climbed on Wednesday, led by retailers after Spanish fast-fashion giant Inditex reported its second-quarter results, while Novo Nordisk also rose following the Wegovy maker's announcement of restructuring steps, including job cuts. The pan-European STOXX 600 .STOXX was up 0.4% at 554.9 points, as of 0715 GMT, hovering near a two-week high. Retailers .SXRP led sectoral gains with a 2.2% jump, as Inditex ITX.MC climbed 6% after the Zara owner reported an acceleration in sales ahead of the autumn quarter, overshadowing weaker-than-expected second-quarter sales. Shares of Novo Nordisk NOVOb.CO rose nearly 2% after the Danish company said it could cut about 11.5% of its workforce. The restructuring plan is expected to save around $1.26 billion annually, as the company struggles to remain competitive in the weight-loss drug market. It was also an upbeat day for European tech stocks, with German software maker SAP SAPG.DE and Dutch company ASML ASML.AS both climbing about 1% each, after Oracle ORCL.N projected over half a trillion dollars in booked cloud orders. The U.S. company's Frankfurt-listed shares ORCL.F surged 30%. ($1 = 6.3725 Danish crowns) (Reporting by Tristan Veyet in Gdansk, Johann M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips)