European Stocks Track Higher in Monday Trading; Eurozone Manufacturing Continues to Contract

11:49 AM EST, 02/02/2026 (MT Newswires) -- The European stock markets were tracking higher in Monday trading as the Stoxx Europe rose 1.05%, Germany's DAX gained 1.09%, the FTSE 100 was up 1.15%, France's CAC increased 0.86%, and the Swiss Market Index advanced 1.65%.

Manufacturing output across the euro area increased in January for the 10th time in the past 11 months, according to the HCOB Eurozone Manufacturing PMI, which gauges the overall health of the eurozone manufacturing sector compiled by S&P Global. Business confidence rose to its highest level since February 2022.

However, despite increasing to 49.5 points from 48.8 in December, it was third straight month during which the index was below the 50.0-point threshold separating contraction from expansion.

In the UK, the seasonally adjusted S&P Global UK Manufacturing Purchasing Managers' Index rose to a 17-month high of 51.8 points in January, up from 50.6 in December, and beating the flash estimate of 51.6. It was the third consecutive month the PMI has indicated growth.

In Germany, retail sales increased 2.7% adjusted for inflation, and 3.8% not adjusted for inflation compared with a year earlier, according to preliminary results from the Federal Statistical Office (Destatis). After a 3.8% increase in real retail sales in H1 of 2025 compared with a year earlier, growth slowed in H2 to 1.7%.

And in corporate news, Sanofi has been found by UK's Prescription Medicines Code of Practice Authority in breach of the Association of the British Pharmaceutical Industry code of practice for allegedly making "misleading" claims about its Beyfortus drug and disparaging Pfizer's rival vaccine, the regulator said Monday.

Sanofi's action "brought discredit upon and reduced confidence" in the pharmaceutical industry, according to the regulator.

Sanofi did not immediately reply to a request for comment from MT Newswires.

Sanofi said Monday venglustat met its primary goal in a phase 3 study involving adult and pediatric patients with neurological symptoms of type 3 Gaucher disease, but failed to meet the main goal in another study.

The company has been evaluating venglustat for type 3 Gaucher disease and Fabry disease, both rare inherited lysosomal storage diseases.

Shares of the French pharmaceutical company were up 1.8% in Paris.

Shares of Opera surged 15% in Frankfurt after it said Monday that it expects Q4 revenue of more than $170 million, exceeding its previously issued guidance of $162 million to $165 million.

AstraZeneca said Monday that its shares will begin trading on the New York Stock Exchange for the first time, effective at the opening bell.

With the switch to the exchange from Nasdaq, AstraZeneca shares will now trade on the NYSE, the London Stock Exchange and Nasdaq Stockholm "under a harmonized listing structure," the drugmaker said.

Shares of the British pharmaceutical company gained 3.2% in London.

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