European shares gained on Friday at the open, after Sanofi and GlaxoSmithKline led a recovery in healthcare shares, and the main Stoxx 600 index was poised for weekly gains. Sanofi rose 1.6 percent, while GlaxoSmithKline rose 3.0 percent, after heavy selling in the previous session due to concerns about a US lawsuit focused on a heartburn drug due to the possibility of it containing a carcinogen. And the healthcare sector in Europe advanced 0.4 percent, while the pan-European Stoxx 600 index rose 0.1 percent. The main index rose for the second day in a row and is heading for a weekly gain of 1 percent, as the weaker-than-expected US inflation reading calmed concerns about the Federal Reserve’s monetary tightening cycle.
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