The European stock markets closed mixed in Tuesday trading amid rising hostilities in the Middle East and surging oil prices.
The Stoxx Europe edged 0.1% higher, France's CAC gained 0.2%, the Swiss Market Index dropped 1.3%, while Germany's DAX and the FTSE 100 were down 0.1%.
In corporate news, Novartis shares dropped after it said Tuesday its phase 3 Harbor study evaluating delpacibart etedesiran in patients with myotonic dystrophy type 1 failed to meet its primary endpoint of video hand opening time.
The drug candidate for the genetic muscular disorder displayed signs of clinical activity for its secondary endpoints measuring muscle strength, daily living activities, and mobility during the trial, the company said.
The company is analyzing the full dataset to decide future development plans while maintaining its five-year annual sales growth target of 5% to 6% through 2030, Novartis said.
Shares of the Swiss pharmaceutical company tumbled more than 10% in Zurich.
Novo Nordisk said Monday its phase 3 Step Young trial evaluating once-weekly semaglutide in children aged six to under 12 with obesity met its primary endpoint.
The treatment produced a superior reduction in body mass index at 68 weeks compared with a placebo, the company said.
The study also achieved its secondary endpoint for body mass index classification improvement, resulting in 40.4% of treated patients no longer meeting the criteria for obesity, it said.
Safety results aligned with previous trials and showed no adverse effects on growth or pubertal development, Novo Nordisk said.
Shares of Novo Nordisk fell 2% in Copenhagen.
BHP and unions representing workers at the mining company's Port Hedland iron ore operations in Western Australia ended negotiations without reaching an agreement on a four-year employment deal, Reuters reported Tuesday.
The mining company BHP is offering most workers a 17% pay increase over the four-year term of the proposed deal as well as a transition payment of 25,000 Australian dollars ($18,038) to be paid over two years and higher roster allowances, the report said, citing the company.
The three unions making up the Combined BHP Ports Unions rejected BHP's revised proposal, according to Reuters.
BHP did not immediately respond to requests for comment from MT Newswires.
Shares of the mining company rose nearly 2% in London.
Stellantis, Ford Motor, and Hyundai Motor are planning extended-range electric vehicles that combine large batteries with gasoline-powered generators to address consumer concerns over EV range, The Wall Street Journal reported Sunday.
Stellantis plans to introduce the extended-range Jeep Grand Wagoneer later this year or early next year, with the Ram 1500 REV to follow and offer up to 690 miles of range, according to the report.
Ford Motor, Stellantis and Hyundai Motor didn't immediately respond to MT Newswires' requests for comment.
Shares of Stellantis dropped 2.78% in Paris.
British pharmaceutical company GSK has kicked off a six-tranche dollar bond sale to help refinance bridge funding for its $10.6 billion acquisition of Nuvalent, Bloomberg reported Tuesday, citing a person familiar with the matter.
The six-part offering has bonds with maturities ranging from three to 30 years, with initial price talks for the longest tenor for a premium of about 1.1 percentage points above Treasuries, the report said, citing the person.
GSK didn't immediately reply to a request for comment from MT Newswires.
Shares of GSK fell 1.8% in London.
Deutsche Bank settled a lawsuit with another former employee in a case involving alleged damage to certain employees' reputations over their business with Italy's Monte dei Paschi in 2008, news outlets reported Monday, citing the company.
The German lender reportedly settled the suit with Dario Schiraldi, who was seeking 152 million euros ($176.5 million) in damages.
The company didn't immediately respond to MT Newswires' request for comment.
Shares of the German lender declined 0.2% in Frankfurt.