European markets close mixed; Novo Nordisk shares jump 9%, extending rally after GLP-1 pill approval

European markets closed mixed on Wednesday as investors took stock of the volatile year during Christmas Eve’s shortened trading session.

The pan-European Stoxx 600 finished just below the flatline, with major bourses mixed before Wednesday’s early close at 12.30 p.m. in London (7:30 a.m. ET).

The benchmark reached a new record closing high on Tuesday, buoyed by Copenhagen-listed Novo Nordisk’s booming share price after it gained FDA approval for the first-ever GLP-1 pill. Novo Nordisk’s share price continued to climb on Wednesday, closing the session 9.2% higher.

French pharmaceutical company Sanofi on Tuesday announced it will acquire U.S. company Dynavax in a deal worth $2.2 billion. Dynavax has a marketed adult hepatitis B vaccine and a shingles vaccine candidate in the works. Sanofi shares finished 0.3% lower.

Sportswear brand Puma was among Wednesday’s movers as its share price fell 1.6%. The German firm announced a 500-million-euro bridge loan and 108 million euros in credit on Dec. 18, and was the subject of takeover rumors earlier this month. Its stock is down over 50% year-to-date.

Gold and silver futures were on a tear this week, having hit fresh highs during both Monday and Tuesday’s trading sessions. On Wednesday, they were last seen trading at $4,521.90 per ounce and $72.365 per ounce, respectively.

Thierry Breton, a former European Union commissioner behind the Digital Services Act, and anti-disinformation campaigners received visa bans from the U.S. for allegedly censoring U.S. social media platforms. It comes as President Donald Trump continues to ramp up travel restrictions for foreign visitors and criticizes Europe.

“For far too long, ideologues in Europe have led organized efforts to coerce American platforms to punish American viewpoints they oppose. The Trump Administration will no longer tolerate these egregious acts of extraterritorial censorship,” Secretary of State Marco Rubio said on X, though he did not identify anyone. Under Secretary for Public Diplomacy Sarah Rogers later identified the five people affected.

Elsewhere, Asia-Pacific markets traded mostly higher as several indexes are set to close early because of the Christmas Eve holiday. U.S. stock futures traded near the flatline overnight despite the S&P 500 also notching a record close.