Novo Nordisk shares surged at the European market Open, reversing some of last week’s plunge, after Hims & Hers Health pulled a copycat version of the new Wegovy weight-loss pill. The Danish pharma giant’s stock rose as much as 8.6% in early Copenhagen trading, clocking its biggest gain so far this year. Hims & Hers said it would stop offering the treatment in a post on X Saturday, a day after the US Food and Drug Administration pledged to crack down on copycat weight-loss drugs.
Elsewhere, sterling fell against the euro to its lowest level since January 22 as the UK political crisis deepened after Starmer’s chief of staff quit on Sunday, over the appointment of Peter Mandelson as ambassador to Washington. Renewed political uncertainty about the future of the Labour Party dragged gilts lower at the open.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.
Chapters:
00:00:00 – The Opening Trade
00:01:50 – Yen Strengthens After Takaichi Election Win
00:04:42 – China Urges Banks to Curb Treasuries Exposure
00:06:10 – Starker’s UK Premiership Teeters
00:09:04 – Jimmy Lai Prison Sentence
00:09:26 – Anthropic $20 Billion Funding
00:09:59 – Seahawks Superbowl Win, Bad Bunny Halftime Show
00:15:24 – Takaichi, LDP Secure Landslide Election Win
00:27:44 – Streeting, Rayner Seen as Starmer Replacement Candidates
00:34:30 – FTSE 100 Futures, Pound
00:41:16 – Stagflationary US Data Will Hurt Risk Mood: 3-Minutes MLIV
00:47:35 – Stocks to Watch; Novo Nordisk, Unicredit, InPost
01:06:23 – UniCredit Stock
01:10:24 – UK Voting Intention
01:16:04 – Iran, US Nuclear Talks
01:33:01 – S&P Futures, Big Week for US Data
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More on Bloomberg Television and Markets
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