European Stocks Rise as Novo’s Rebound Outweighs Stellantis Drop

European stocks turned higher in a volatile Friday session as a rebound in drugmaker Novo Nordisk A/S helped counter weakness in carmakers.

The Stoxx Europe 600 Index rose 0.9% by the close. Novo jumped 5.3% after having lost as much as a quarter of its market value during the week over concerns about a copycat version of its Wegovy obesity pill. Svenska Handelsbanken AB raised its recommendation on the stock to buy from sell.