European shares rise as investors buy dips, shrug off US tariff threats

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European shares extended gains on Wednesday as investors bought into recent market weakness, brushing aside fresh U.S. tariff threats and digesting a mixed batch of corporate earnings.

The pan-European STOXX 600 index was up 0.3%, as of 0713 GMT, rising for a third consecutive session after touching a five-week low on Friday.

Germany's blue-chip DAX and France's CAC 40 climbed 0.5% and 0.4%, respectively.

Shares of Commerzbank rose nearly 1% after the German lender posted its quarterly net profit above expectations and raised parts of its full-year outlook.

Siemens Energy said it expects to hit the upper end of its 2025 growth outlook estimates. Shares rose 1.2%.

Swiss President Karin Keller-Sutter was set to meet U.S. Secretary of State Marco Rubio as Switzerland seeks to negotiate the 39% tariff scheduled to take effect on Thursday.

Switzerland's benchmark SMI index edged 0.1% lower.

European healthcare stocks slipped 0.7%, weighed down by a 1.3% drop in heavyweight Novo Nordisk after the Danish drugmaker maintained its full-year outlook, just days after slashing its 2025 sales outlook.

The Wegovy maker said it would cut costs after losing nearly $95 billion in market value last week.

Adding to sector pressures, U.S. President Donald Trump said on Tuesday that Washington would initially place a "small tariff" on pharmaceutical imports, eventually increasing it to 250%.

(Reporting by Twesha Dikshit and Medha Singh in Bengaluru; Editing by Sherry Jacob-Phillips)

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