Novo Nordisk drops 5% after U.S. lists drugs for next Medicare price talks; European stocks rise
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 17 2025
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Source: CNBC
European Markets Performance: European markets showed positive trends, with London's FTSE 100 reaching a record high, driven by gains in mining stocks amid merger talks between Glencore and Rio Tinto. Despite disappointing U.K. retail sales data, traders increased bets on potential interest rate cuts from the Bank of England.
Impact on Companies and Currency: Shares of Novo Nordisk fell due to U.S. drug price negotiations, while shipping companies like Hapag-Lloyd faced declines amid concerns over oversupply. The British pound weakened against the dollar following poor retail sales figures, contributing to lower government borrowing costs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
