European Stocks Eye Biggest Weekly Drop Since 2023 as Novo Sinks

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 28 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 50%
  • Publisher: 50%

Asia News

Pacific Rim,Business,Company News

European stocks slid for a second day, putting the benchmark gauge on course for its biggest weekly decline in more than three months, as investors braced for a more hawkish outlook for US interest rates.

December 20, 2024 at 3:12AM EST -- European stocks slumped for a second day, on course for the biggest weekly decline since March 2023. Danish drugmaker Novo Nordisk A/S sank 29% — the most on record — as a study showed underwhelming results from its obesity drug trial.

Novo is Europe’s biggest company by market capitalization and the second-heaviest weighted member in the Stoxx 600. The benchmark Stoxx 600 is now up less than 4% in 2024, sharply underperforming US peers. A rally in the index faltered this month as the Federal Reserve indicated it could slow the pace of easing next year as its 2% inflation target remains out of reach. Trade concerns are also rising, with US President-elect Donald Trump threatening the European Union with tariffs if its member countries don’t buy more American oil and gas.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks set for strong weekly gain, US yields slip as markets eye Trump policiesThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

European Stocks Decline as Investors Await Central Bank DecisionsEuropean stock markets dipped on Tuesday, while the U.S. dollar remained strong. Traders are gearing up for a series of central bank meetings this week, with expectations of a rate cut by the Federal Reserve and no changes from the Bank of Japan.
Source: globeandmail - 🏆 5. / 92 Read more »

Tech Stocks Lead European Shares RecoveryEuropean stocks rebounded Thursday, led by tech sector gains, following a two-day decline fueled by U.S. economic concerns and French political challenges. The STOXX 600 index rose 0.4%, while the tech sector climbed nearly 1%.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Premarket: European stocks dip, ignoring China rally, Aussie falls after RBAChina bond yields hit record lows
Source: globebusiness - 🏆 31. / 66 Read more »

Stocks, currencies boost European hedge fund returns in November, sources sayThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »