Novo Nordisk Rebounds 8% as European Markets Start Week Higher

Novo Nordisk Rebounds After Friday Sell-Off

A sharp rebound in Novo Nordisk (NYSE:NVO) shares stood out on Monday. The Danish pharmaceutical giant’s stock surged 8.44% by late morning in Europe. U.S.-listed shares were also up nearly 5% in premarket trading.

This follows a steep 20% drop on Friday after weaker-than-expected trial results for its experimental weight loss drug, CagriSema. Despite the initial disappointment, the recovery indicates that investors remain confident in Novo Nordisk’s broader portfolio and market potential.

European Markets Start Week Higher

European markets gained ground on Monday, beginning a short trading week ahead of Christmas.

The pan-European Stoxx 600 index rose 0.4% in morning trading, with most sectors in the green. Activity is expected to slow as markets prepare for early closures on Christmas Eve and a full holiday shutdown on Christmas Day.

Overnight, Asia-Pacific markets also saw gains. Investors reacted to the news from Japan, where automakers Honda (NYSE:HMC) and Nissan (TYO:7201) confirmed they are in merger talks. Meanwhile, Renault (PAR:RNO), a major stakeholder in Nissan, saw its shares dip 0.7%.

In the U.K., revised data showed the economy stagnated in the third quarter, with GDP growth flat at 0%.