Nasdaq Nordic Last Week: Zealand Pharma Plunge, Sectra Jump as Nordic Stocks Turn Lower
The Nordic 120 index from Nasdaq slipped 0.78% Friday, landing at 1,603.61. Zealand Pharma out of Denmark plunged over 30% during the session, pulling sentiment across the region down with it. The shock had already rippled through markets by Friday, making the move especially significant. Europe's STOXX 600 logged its sharpest weekly decline in nearly a year, pressured by the Middle East conflict that kept oil high and disappointing U.S. jobs data dragging on expectations for swift rate cuts. Banks and healthcare were hit hardest that day. Edward Jones strategist Angelo Kourkafas pointed out the oil surge put the Fed in a "difficult position," while Amundi’s Ciaran Callaghan noted Europe was "a bit more exposed" to pricier energy.