2023-12-20 08:43:00
European stock markets opened higher on Wednesday, notably London which benefited from the publication of an inflation rate at its lowest in two years.
The FTSE 100 index in London rose 1.06% in early trading. The Paris Stock Exchange opened up 0.27% to 7,595.25 points and Frankfurt rose 0.21%.
On Wednesday, “as the Christmas holidays loom on the horizon, today we will focus on the latest inflation figures in the United Kingdom,” notes Michael Hewson. But investors are especially awaiting the publication on Friday of the PCE inflation index for November, the Fed’s favorite barometer for price rises.
This is not Steve Jobs… But the CEO of a Ghent biotech worth 25 billion
Concern around Argenx
In Brussels, the trend was also upward, the BEL 20 gained 0.50% during the first exchanges. However, this market direction quickly reversed to a sharp decline of 3.50%. The reason ? The heavy fall of Argenx of 33%.
The Belgian biotechnology company Argenx is interrupting its research into the treatment of the rare skin disease pemphigus with its drug Efgartigimod. The Bel 20 company announced this on Wednesday before the opening of the Stock Exchange. This observation is in addition to a similar one drawn up last month by the company for a blood disease, PTI.
The study on the treatment of pemphigus, dermatological diseases such as bullous and autoimmune diseases which attack the mucous membranes and the skin, did not achieve its primary and secondary objectives. It showed no significant difference between the group of patients who received the drug and the group who received a placebo.
“Argenx will not pursue further development in pemphigus and plans to prioritize the clinical development of Efgartigimod in its ongoing severe autoimmune indications,” the company said.
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