LIVE MARKETS-Before the bell: Europe steady, Christmas cheer for Novo

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

BEFORE THE BELL: EUROPE STEADY, CHRISTMAS CHEER FOR NOVO

No big moves were expected at the European open on Tuesday as traders wrapped up a strong year for global equities, with the region’s STOXX 600 .STOXX up over 15%, powered by strength in banks, defence and industrial stocks riding the AI boom.

Futures on the EuroSTOXX 50 .STOXX50E and Germany’s DAX .GDAXI were broadly flat about 30 minutes before the cash market open, while FTSE 100 .FTSE contracts in London eased 0.1%, as a festive mood took hold ahead of the Christmas break.

Global investors meanwhile kept an eye on the yen for signs of possible intervention by Japanese authorities to stem the currency’s slide, while U.S. GDP data was also on the radar later in the day.

Danish drugmaker Novo Nordisk NOVOb.CO looked set to end a disappointing year on a positive note after the U.S. Food and Drug Administration approved its weight-loss pill.

Its shares jumped almost 10% in early Frankfurt trading, after losing more than half their value this year amid growing competition in the weight-loss drug market.

Germany’s market watchdog BaFin fined FlatexDEGIRO FTKn.DE for breaching securities trading rules, saying the broker advertised free services without disclosing processing fees.

(Danilo Masoni)