By Mucahithan Avcioglu
ISTANBUL (AA) - European stock markets closed Wednesday mostly with gains, while pharma stocks plummeted after US President Donald Trump threatened to impose up to 250% tariffs on pharma imports.
The pan-European Stoxx Europe 600 index fell 0.09%, or by 0.47 points, to close at 540.93, while the Pharmaceuticals and Biotechnology index sank more than 3%.
On the other hand, Germany's DAX 40 rose 0.33% to 23,924.36 points, while the FTSE 100 index in London gained 0.24% to end at 9,164.31.
France's CAC 40 index was up 0.18% to 7,635.03 points, and Italy's FTSE MIB 30 climbed 0.65% to 41,009.73.
And Spain's IBEX 35 index rose 0.9% to end at 14,536.6 points.
On Tuesday, Trump announced plans to impose tariffs on pharmaceuticals, starting with small levies that will reach 250% within a few years to encourage domestic production.
Following the announcement, Swiss pharmaceutical giants Novartis and Roche were 3.25% and 2.66% lower, respectively, while Merck fell around 0.5% and Britain’s GSK shed 1.5%.