Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Europe midday: Pharma stocks slide on Kennedy pick as US health chief
(Sharecast News) - European equity markets trimmed losses on Friday with pharma stocks lower on news that Robert F. Kennedy Jr - who has made misleading statements on vaccines - had been appointed as Donald Trump's head of health. The pan-European Stoxx 600 index was down 0.46% at 504.64.
Trump late on Thursday nominated Kennedy, who last year said he believe autism was caused by vaccines and has made a raft of other unsubstantiated statements, to lead the Department of Health and Human Services in his new administration when it takes power next January.
Pharmaceutical stocks such as GSK, Sanofi, Swedish Orphan Biovitrum, UCB, Sartorius Stedim, Zealand Pharma and Roche were all knocked by the news.
In positive news for the sector, shares in Evotec surged as the German drug developer received an €11-per-share offer from Halozyme Therapeutics, valuing the company at about €2bn.
In other equity news, Generali jumped as the Italian insurer posted better-than-expected nine-month profits.
London stocks rallied from morning losses as data showed that economic growth in the UK unexpectedly slowed in the third quarter.
Figures released earlier by the Office for National Statistics showed the economy grew by 0.1% in the last quarter, slightly below expectations.
Growth in the three months to September had been led by strength in the retail trade, excluding motor vehicles, and new construction work. Output in the construction sector jumped 0.8%.
The 0.1% uptick was, however, below second-quarter growth of 0.2%. It also missed analyst expectations for a 0.2% improvement.
Sentiment was also dampened by the European Commission cutting its economic growth forecast for the eurozone next year, and warned that projections could be reduced further in the event of increased protectionist measures - such as the import tariffs proposed by Trump.
Eurozone GDP growth is expected to pick up to 1.3% in 2025, from an estimated 0.8% this year, slightly below the Commission's previous 1.4% forecast.
Reporting by Frank Prenesti for Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
