Chinese shares in the Hang Seng index plunged significantly today (Tuesday), with the index falling by as much as 2.1%. It happened against the background of the publication of new trade figures from China, which showed, among other things, a 14.5% decrease in exports compared to July last year. This decline was more drastic than expected by economists. Imports also saw a significant decrease of 12.4%, which also turned out to be far more than the expected decrease of 5.6%. The situation has negatively affected the Hang Seng index.
Novo Nordisk's obesity medicine Wegovy reduces the risk of cardiovascular events by 20%, according to a study by Select. It was expected that Wegovy would reduce the risk by 17%, meaning that the result exceeded expectations. Martin Holst Lange, who is Group Director responsible for development at Novo Nordisk, says the following: "Wegovy has the potential to change how obesity is viewed and treated." On the basis of that news, Novo Nordisk has risen by approximately 10%.
The European Central Bank (ECB) conducts a monthly survey of consumers' expectations of inflation. The latest survey shows that consumers expect inflation to be 3.4% within the next year. These expectations are more positive than they were back in May, when expectations stood at 3.9%. European inflation is currently at 5.3%. The ECB has maintained a target of bringing inflation down to 2%, which is the reason why the central bank has now raised interest rates nine times in total.
Sources: Bloomberg, euroinvestor, Borsen.dk