European shares rose at the open on Wednesday, as a string of positive corporate results lifted sentiment, but gains were capped by Novo Nordisk’s second-quarter operating profit, which missed expectations.
The pan-European STOXX 600 index rose 0.5 percent to 491.07 points, while the healthcare sub-index fell 0.7 percent.
Novo Nordisk shares fell 6.6 percent after the obesity drug maker reported lower-than-expected quarterly operating profit and also cut its annual earnings forecast.
Roche shares gained 1.5 percent after a report that the Swiss drugmaker is considering divesting from Flatiron Health.
Shares of auto parts maker Continental jumped 5 percent after it beat second-quarter earnings expectations.
Bucking the trend, Puma shares plunged 12.5 percent after the German sportswear maker cut its full-year core earnings forecast.
Shares in Commerzbank, one of Germany’s best-known banks, fell 5.5 percent after second-quarter net profit fell 5 percent.
Beiersdorf shares fell by about 4 percent despite the Nivea maker announcing a 7.1 percent growth in organic product sales in the first half of the year.