economy
European stocks post worst month since 2022 as Iran war drags on
European stocks rose on Tuesday but rounded-off their worst monthly performance in six years, as uncertainty over the trajectory of the Iran war lingers.
TL;DR
- European stocks closed March with a 7.99% decline, the largest monthly loss since mid-2022.
- Eurozone inflation surged to 2.5% in March, exceeding the European Central Bank's 2% target.
- Uncertainty over the duration and impact of the Iran conflict contributed to market volatility.
- Unilever is in advanced discussions to merge its foods business with McCormick for approximately $15.7 billion in cash plus equity.
- Novo Nordisk launched a multi-month subscription program for its Wegovy obesity drug to ensure predictable pricing for cash-paying patients.
- Novo Nordisk's market share for GLP-1 weight loss drugs has decreased to 40%, with Eli Lilly holding 60%.