Europe’s Big Stocks Are Shrinking Deeper Into US Megacaps’ Shadow
- Novo Nordisk, Nestle, LVMH shares set to end 2025 in the red
- US Magnificent Seven tech shares have powered S&P 500 records
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A $93 billion plunge in Novo Nordisk A/S shares has provided the latest blow to Europe’s largest listed companies, which have spent another year struggling in vain to match the returns of Wall Street’s biggest stocks.
While the top 10 US stocks have notched double-digit returns in 2024, powered by the so-called Magnificent Seven, six of Europe’s biggest names are in the red. They include Ozempic maker Novo, whose gains for the year were fully erased in Friday’s selloff, as well as Nestle SA and LVMH Moet Hennessy Louis Vuitton SA.