News Formal

Novo Nordisk overtakes luxury group LVMH as Europe's most valuable company

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

LONDON (Reuters) - Danish drugmaker Novo Nordisk unseated LVMH as Europe's most valuable listed company on Friday, ending the French luxury group's ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSLONDON - Danish drugmaker Novo Nordisk unseated LVMH as Europe's most valuable listed company on Friday, ending the French luxury group's 2-1/2 year-long reign at the top.

Novo Nordisk now has a market capitalisation of $421 billion, according to Refinitiv data. The French-listed LVMH has a market cap of $420.97 bln. The pharma group has had a huge boost in recent weeks from investors betting on the increasingly lucrative weight-loss drug market, while LVMH has come under pressure, along with other luxury retailers as concern about growth in China has burgeoned.

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:

 /  🏆 45. in ZA
 

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

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Novo Nordisk is second most valuable company in Europe: ReportNovo Nordisk (NVO), who produces Ozempic and Wegovy, is the currently the second most valuable company in Europe, worth more than McDonald's (MCD) and Netflix (NFLX) combined, according to Chartr. Yahoo Finance Health Care Reporter Anjalee Khemlani discusses what's driving the company's value. 
Source: YahooFinanceCA - 🏆 47. / 63 Read more »