Leading European bourses are falling in a broad decline ahead of the close on Thursday. A rising oil price is contributing to weighing on the markets. Brent crude is currently trading at around 101 dollars per barrel.
The broad Europe index Stoxx 600 was down 1.11 percent at 627.86 at 16:10. During the day, the index has traded within a range of -1.58 percent at its lowest and -0.24 percent at its highest.
By sector, media is performing best, up 1.16 percent, while technology is posting the second-best performance, up 0.97 percent.
Banks are performing worst, down 3.24 percent, while consumer goods are posting the second-weakest performance, down 2.10 percent.
French pharmaceutical company Sanofi and US-based Regeneron are expanding their global collaboration with four long-acting antibodies in immunology. Regeneron will receive 1 billion dollars in upfront payment and may receive up to an additional 7 billion dollars in milestone payments. Sanofi’s share is rising 1.4 percent.
Danish pharmaceutical company Novo Nordisk is cutting the price of the obesity drug Wegovy in Sweden by 20 percent effective today, October 1. The cut applies to the 1.7 and 2.4 milligram doses, which are used during most of the treatment period. The share is losing 1.8 percent.
Danish wind power company Vestas has received new wind power orders in Australia, Romania, Austria and Germany totaling 777 megawatts. All orders are included in the company’s order intake for the third quarter. The company traditionally tends to receive a larger number of orders at the end of each quarter. The share is falling 3.5 percent.
Danish pharmaceutical company Lundbeck’s phase IV Thrive study of the migraine drug Vyepti, eptinezumab, has reached its primary endpoint. The share is nevertheless down 1.8 percent.
Paper producer Norske Skog has completed the sale of properties at Saugbrugs to Norsk Nukleær Dekommisjonering. The deal generates a capital gain of 330 million Norwegian kroner. The share is falling 4.5 percent.
Germany’s Fresenius SE is acquiring the remaining 45 percent of biosimilar company mAbxience from Insud Pharma and Invim Corporativo for up to 750 million euros. The share is losing 1.3 percent.
Swiss pharmaceutical company Roche announces that the US Food and Drug Administration FDA has accepted the company’s application for approval of fenebrutinib and granted priority review. The treatment is being evaluated for relapsing multiple sclerosis, RMS, and primary progressive multiple sclerosis, PPMS. The share is unchanged.
IndexLatestToday, %This year, %TimeStoxx 600627,86-1,11%6,02%16:10:15FTSE 10010 440,49-1,56%5,13%16:10:14DAX25 035,72-0,65%2,23%16:10:16CAC 407 856,21-1,36%-3,60%16:10:15Stoxx 600 sector performance:Automobiles & parts417,47-1,19%-20,47%16:10:15Banks408,62-3,24%15,01%16:10:15Basic resources795,84-1,81%19,47%16:10:15Chemicals1 254,69-1,42%13,29%16:10:15Construction & materials767,94-1,35%-9,45%16:10:15Oil & gas543,37-0,29%34,29%16:10:15Financial services914,71-1,36%1,70%16:10:15Food608,55-1,00%-2,26%16:10:15Industrial goods1156,49-0,56%8,26%16:10:15Insurance516,89-0,93%1,27%16:10:15Media376,851,16%-5,52%16:10:15Health care1 091,46-0,56%-4,43%16:10:15Technology1 045,450,97%24,96%16:10:15Telecommunications269,23-0,41%5,22%16:10:15Utilities524,81-0,70%7,15%16:10:15Consumer goods909,30-2,10%-15,29%16:10:15Retail463,96-0,82%-4,59%16:10:15Travel & leisure271,57-0,69%-3,18%16:10:15Real estate114,70-1,25%-9,21%16:10:15Source: Factset
