Doha: European shares nudged up on Thursday after the US Federal Reserve lowered borrowing costs for the first time since December, while shares of SIG plummeted after the Swiss-based company issued a profit warning. The pan-European STOXX 600 rose 0.5% to 553.49 points, in broad-based gains.

According to Qatar News Agency, in Denmark, Novo Nordisk saw a significant increase, rising by 2.6%. However, not all companies shared in the positive momentum, as SIG Group experienced a sharp decline, sliding by 20%. Additionally, Britain’s retailer Next also faced a downturn, losing 5.5% in stock value.