On this episode of Stock Movers:
- Munich Re shares dropped as much as 6.9%, the most since April, after the firm cut its insurance revenue guidance for the full year, missing the average analyst estimate.
- Kingspan dropped as much as 6.2% following its results. The building materials company forecast trading profit for the full year of about EU950 million, below estimates of EU983.8 million.
- Novo Nordisk advanced as much as 4.6% after Intron Health upgraded its rating to hold from sell. The research firm sees the narrative probably being dominated by the potential upside for the Danish drugmaker following peer Eli Lilly’s disappointing data for its new weight-loss pill.