By Steve Goldstein
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 /zigman2/quotes/210599654/delayed XX:SXXP +0.74% 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 /zigman2/quotes/210597999/delayed DX:DAX +0.84% gained 1.7%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.80% increased 1.3% and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.57% increased 0.9%.
Most sectors advanced, with healthcare shares in particular seeing strength as AstraZeneca /zigman2/quotes/203048482/delayed UK:AZN -1.40% rose 5% and Novo Nordisk /zigman2/quotes/207193277/delayed DK:NOVO.B -0.79% rose 3%, though energy companies including Equinor /zigman2/quotes/203290881/delayed NO:EQNR -0.61% and TechnipFMC slumped as oil prices retreated.
AstraZeneca reported a positive late-stage trial for a prostate cancer drug.