European stocks advance after partial Russian troop withdrawal

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 +0.10% 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 +0.16% gained 1.7%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.08% increased 1.3% and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.14% increased 0.9%.

Most sectors advanced, with healthcare shares in particular seeing strength as AstraZeneca /zigman2/quotes/203048482/delayed UK:AZN -0.75% rose 5% and Novo Nordisk /zigman2/quotes/207193277/delayed DK:NOVO.B +0.99% rose 3%, though energy companies including Equinor /zigman2/quotes/203290881/delayed NO:EQNR +0.22% and TechnipFMC slumped as oil prices retreated.

AstraZeneca reported a positive late-stage trial for a prostate cancer drug.

/zigman2/quotes/210599654/delayed

Add to watchlist XX:SXXP

STOXX Europe 600 Index

XX : STOXX

446.90

+0.43 +0.10%

Volume: 0.00

March 22, 2023 10:00a

/zigman2/quotes/210597999/delayed

Add to watchlist DX:DAX

DAX

DX : Xetra Indices

15,220.35

+25.01 +0.16%

Volume: 13,049

March 22, 2023 10:00a

/zigman2/quotes/210597958/delayed

Add to watchlist FR:PX1

CAC 40 Index

FR : France: Euronext Paris

7,107.00

-5.91 -0.08%

Volume: 7,953

March 22, 2023 10:00a

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Add to watchlist UK:UKX

FTSE 100 Index

UK : FTSE UK

7,525.72

-10.50 -0.14%

Volume: 63,481

March 22, 2023 9:00a

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Add to watchlist UK:AZN

AstraZeneca PLC

UK : U.K.: London

10,822.00 p

-82.00 -0.75%

Volume: 59,317

March 22, 2023 9:00a

P/E Ratio

61.57

Dividend Yield

2.21%

Market Cap

£167.23 billion

Rev. per Employee

£431,205

/zigman2/quotes/207193277/delayed

Add to watchlist DK:NOVO.B

Novo Nordisk A/S Series B

DK : Denmark: OMX

kr. 1,016.80

+10.00 +0.99%

Volume: 159,777

March 22, 2023 10:00a

P/E Ratio

41.61

Dividend Yield

1.22%

Market Cap

kr.2226.81 billion

Rev. per Employee

kr.3.25M

/zigman2/quotes/203290881/delayed

Add to watchlist NO:EQNR

Equinor ASA

NO : Norway: Oslo

kr 293.35

+0.65 +0.22%

Volume: 238,637

March 22, 2023 9:59a

P/E Ratio

3.33

Dividend Yield

3.27%

Market Cap

kr922.79 billion

Rev. per Employee

N/A