11:48 AM EST, 02/24/2026 (MT Newswires) -- The European stock markets in Tuesday trading as traders weighed geopolitical tensions and possible AI disruption of certain sectors, including financial services.

The Stoxx Europe gained 0.3%, Germany's DAX was up 0.1%, the FTSE 100 increase 0.1%, France's CAC rose 0.3%, and the Swiss Market Index advanced 1%.

European Union officials expect the US to reduce the amount of goods subject to the 50% tariff rate applied to products that contain steel and aluminum in the coming weeks, Bloomberg reported Tuesday, citing people familiar with the EU's thinking.

And in corporate news, Novo Nordisk said Tuesday it intends to cut US list prices for its Wegovy and Ozempic drugs by up to 50%, starting Jan. 1, 2027.

Under the plan, the list price for Wegovy, the company's weight loss drug, will drop by about 50%, while the price for Ozempic, the company's diabetes treatment, will fall by 35%, both to $675 per month, the company said.

Shares of the Danish pharmaceutical were down more than 3% in Copenhagen.

Shell, TotalEnergies, Eni, Exxon Mobil and other shareholders in the Kashagan oilfield in Kazakhstan have begun arbitration proceedings against a roughly $4.6 billion environmental fine, Reuters reported Tuesday, citing a Shell spokesperson.

Kazakhstan's government fined the consortium that includes Shell for ecological violations over excessive volumes of poisonous sulphur at the site, according to the report.

Shares of Shell were up 0.5% in London, while TotalEnergies rose 0.9% in Paris, and Eni gained 0.5% in Milan.

Telefonica reported Q4 adjusted earnings Tuesday of 0.06 euro ($0.07) per share, down from 0.09 euro a year earlier.

A single analyst polled by FactSet expected 0.11 euro.

Revenue for the quarter ended Dec. 31 was 9.17 billion euros, up from 9.11 billion euros a year earlier. Analysts surveyed by FactSet expected 9.13 billion euros.

Shares of the Spanish telecommunications operator fell 1% in Madrid.

French pharmaceutical company Sanofi and Regeneron Pharmaceuticals said the US Food and Drug Administration approved Dupixent to treat allergic fungal rhinosinusitis in patients six years of age and older who have a history of sinus surgery.

The approval makes Dupixent the first authorized treatment for the chronic inflammatory sinus condition, the companies said Tuesday in a statement.

Shares of Sanofi were little changed in Paris.

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