Key Points To Watch Out For:
- Freeport shares rise 2% following Trump’s tariffs on copper.
- UnitedHealth falls 1.4% on Medicare fraud investigation.
- Novo Nordisk falls after threat of tariffs on pharmaceutical companies.
Freeport-McMoRan (FCX): up 2% due to copper tariffs
Freeport rose 2% in premarket trading. Trump announced 50% tariffs on copper imports, pushing up the price of the metal and miner shares.
Glencore (GLEN), Anglo American (UK:AAL), Zijin (2899), Jiangxi Copper (358): fall on new tariffs
Shares of copper producers out of the US fell after Trump threatened to apply tariffs on metal imports.
Novo Nordisk (NVO), Sanofi (SNY), AstraZeneca (AZN): down after tariff threat
Trump proposed 200% tariffs on pharmaceutical imports, valid for 1.5 years. European stocks fell; Pfizer and Eli Lilly unchanged.
UnitedHealth (UNH): down 1.4% due to fraud investigation
UnitedHealth lost 1.4% pre-market. The DOJ’s fraud unit is investigating Medicare billing, The Wall Street Journal reported.
Essilor Luxottica (EL): up after Meta investment
Essilor rose in Paris. Bloomberg reported that Meta bought a minority stake. The two companies already make Ray-Ban smart glasses together.
WPP (WPP): down 18% after lower customer spending
WPP fell 18% in London. The company reported that its customers cut advertising spending. Omnicom and Interpublic also fell in premarket trading.
UniCredit (UCG): rises 3.5% after increasing stake in Commerzbank
UniCredit gained 3.5%. It converted debt into Commerzbank shares, doubling its stake as it explores a merger with the German bank.
