On Tuesday, the STOXX 50 and STOXX 600 indices experienced minimal movement in what proved to be a volatile trading session. Investors were primarily focused on the ongoing trade negotiations between the United States and China, which continued for a second day. Although the initial discussions did not yield any significant results, US officials remained optimistic about the potential outcomes of the talks.
In the corporate sector, UBS shares declined sharply by nearly 4.5%. This downturn was attributed to growing investor concerns over new government mandates that would require the Swiss bank to bolster its capital reserves by an additional $26 billion. Other banking stocks also faced pressure, with Societe Generale dropping 2.4%, Banco Santander down by 2.6%, and BNP Paribas falling 2.8%. Similarly, Deutsche Telekom and SAP recorded declines of 1.7% and 0.6%, respectively.
Conversely, Novo Nordisk enjoyed a notable surge, with its stock rising 6% after the Financial Times reported that activist hedge fund Parvus Asset Management is purchasing a stake in the company.
