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The Guardian - UK
The Guardian - UK
Business
Graeme Wearden

European defence company shares fall amid Ukraine peace talk hopes; Novo Nordisk reports Ozempic fails to help with Alzheimer’s – as it happened

US Secretary of State Marco Rubio (R) and Ukraine's Presidential Office Chief of staff Andriy Yermak hold a press conference following their closed-door talks on a US plan to end the war in Ukraine yesterday.
US Secretary of State Marco Rubio (R) and Ukraine's Presidential Office Chief of staff Andriy Yermak hold a press conference following their closed-door talks on a US plan to end the war in Ukraine yesterday. Photograph: AFP/Getty Images

Closing post

And finally, European defence stocks have closed in the red, pushed down by hopes of a breakthrough in the talks to end the Russia-Ukraine war.

In London, weapons maker BAE Systems ended the day among the big fallers on the FTSE 100 share index, down 3%, with defence contractor Babcock losing 1.5%.

German arms maker Rheinmetall has lost over 5%, while Renk lost 3.85%.

Stocks fell after the US and Ukraine said they had created an “updated and refined peace framework” to end the war with Russia

However, UK prime minister Keir Starmer said today there was more work to do to establish a “just and lasting peace” in Ukraine, but progress was being made.

Starmer said a group of countries supporting Ukraine, known as the coalition of the willing, would discuss the progress being during a virtual meeting on Tuesday.

He told broadcasters:

“Everybody is absolutely focused on what we need to get out of this, and that is a just and lasting peace.”

Back on the Danish stock market, Novo Nordisk’s share price recovered some of its earlier losses, but ended in the red.

Following the news that its semaglutide-based drugs did not slow the progression of Alzheimer’s in late-stage trials, Novo’s shares have closed down 5.79% tonight at 287 Danish krona.

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