Key Takeaways
- Spanish annual inflation remained stable at 2.7% in July, aligning with expectations, while the monthly core CPI saw a 0.2% decline, a notable shift from the previous 0.5% increase.
- Eli Lilly and Company (India) has launched its MountJaro KwikPen in India, offering a convenient, once-weekly prefilled pen for adults with Type 2 Diabetes and Obesity.
- European stock markets saw mixed movements, with TUI gaining 2.2% and Evotec rising 1.5%, while Sixt declined 4.0% and Vestas Wind Systems fell 2.0%.
- Istanbul's Mayor indicated he would back other opposition figures against President Erdogan if he is not released, highlighting escalating political tensions in Turkey.
Spanish inflation figures for July indicate a nuanced economic picture, with the annual Consumer Price Index (CPI) holding steady at 2.7%, matching forecasts. This rate is notably above the European Central Bank's 2% target, suggesting persistent price pressures within the Eurozone's fourth-largest economy. However, the monthly core CPI, which excludes volatile items like food and energy, registered a 0.2% decrease, a reversal from the 0.5% increase seen in the previous month. The annual core CPI for Spain remained at 2.3%, consistent with expectations. Meanwhile, the EU Harmonised CPI (HICP) also maintained its annual rate at 2.7%, with a monthly decrease of 0.3%.
In the pharmaceutical sector, Eli Lilly and Company (India) introduced its MountJaro KwikPen to the Indian market. This new, user-friendly, once-weekly prefilled pen is designed to improve treatment for adults battling Type 2 Diabetes and Obesity. The drug, Mounjaro (tirzepatide), is a dual GIP and GLP-1 receptor agonist, aimed at enhancing blood sugar control and supporting weight management. This launch underscores the company's commitment to addressing significant public health challenges in a country with a large diabetic population.
European stock markets experienced varied performance among key movers. Travel giant TUI ([TUI1 GY](/stock/TUI1 GY)) saw a positive movement, increasing by 2.2%. German biotech firm Evotec ([EVT GY](/stock/EVT GY)) also posted gains, rising 1.5%. Danish pharmaceutical leader Novo Nordisk ([NOVOB DC](/stock/NOVOB DC)), a major player in the diabetes and obesity treatment market, edged up 1.0%. Conversely, German car rental company Sixt ([SIX2 GY](/stock/SIX2 GY)) faced a notable decline, dropping 4.0%. Renewable energy firm Vestas Wind Systems ([VWS DC](/stock/VWS DC)) also saw a downturn, falling 2.0%.
Political developments in Turkey continue to draw attention, as Istanbul's Mayor stated he would support other opposition figures against President Erdogan if he is not released. This declaration signals a potential escalation of political tensions and a deepening of the rift between the ruling party and the opposition. The mayor's comments come amidst ongoing scrutiny of political freedoms and dissent in the country.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.