European stocks rose on Friday as regional markets reopened after a shutdown for the Christmas holidays.

The pan-European Stoxx 600 The index was 0.4% higher at 10:26 a.m. London time, with most sectors and major exchanges in positive territory.

Healthcare stocks were among the top performers on Friday, with the sector boosting Novo Nordisk’s share price by 2.5%. The Danish pharmaceutical giant rose to the top of the Stoxx 600, continuing its recovery from a major sell-off that saw shares plunge 20% in a single session last week.

Shares in oil tanker company Frontline also rose on Friday, rising 3% at 10:20 a.m. London time. This comes as oil prices are on track for weekly gains and economic growth forecasts for China, the world’s largest oil importer, were revised upward by the World Bank after Beijing promised further stimulus.

Norwegian oil and gas company Vaar Energi also rose to the top of the Stoxx 600 index with a gain of 3%.

Swedish online gambling company Evolution posted gains of around 3.5%, recovering from losses earlier this week after the company was investigated by the UK Gambling Commission for links to unlicensed operators.

At the other end of the index is Delivery hero fell 5% after Taiwan’s antitrust regulator on Wednesday blocked Uber’s $950 million bid to acquire the company’s Foodpanda business.

Elsewhere, investors are watching economic data from China, where official figures showed that industrial profits in the world’s second-largest economy contracted for a fourth straight month in November.

The release of the data came a day after the World Bank raised its growth forecasts for China in 2024 and 2025, but warned that the country’s economy would remain under pressure amid subdued business confidence and ongoing uncertainty in China’s struggling real estate sector.

Markets in Asia were mixed overnight as traders reacted to the latest Chinese data as well as the latest inflation numbers from Japan. In an update on Friday, official figures showed that core inflation in the city of Tokyo was 3% in November, down from 2.6% in October.