European equity markets opened higher on Thursday as investors showed resilience in the face of President Trump's threats to impose tariffs on patented pharmaceuticals. As of press time, the European Stoxx 600 index gained 0.3%. The healthcare sector declined 0.2% following Trump's announcement that he plans to impose 100% tariffs on patented drugs starting October 1st unless manufacturers establish production facilities in the United States. Novo Nordisk (NVO.US) fell 1.7%, while Zealand Pharma dropped 2.2%. Sophie Huynh, portfolio manager and strategist at BNP Paribas Asset Management, commented: "This could be a good opportunity to increase rather than short European equities. The pharmaceutical industry is an important sector, but it has strong country-specific characteristics. This will create tension, but investors need to look at the bigger picture." European markets have been trading within narrow ranges as investors weigh prospects for US interest rate cuts. Later today, market attention will shift to the Federal Reserve's preferred inflation gauge—the Personal Consumption Expenditures Price Index—for clues about the US economic outlook. Among other individual stocks, STMicroelectronics fell as much as 1.6% following reports that the Trump administration is considering plans to reduce US dependence on overseas semiconductors.