Trending tickers: Glencore | Novo | Anglo American | Country Garden
Country Garden (2007.HK)
Shares in Chinese real estate developer Country Garden rose almost 20% in Asia overnight, as it bought itself more time with creditors, who agreed to restructure a debt repayment that was due on Saturday.
The share price bump supported Hong Kong's Hang Seng mainland properties index, which rose more than 9%.
The move comes as the Chinese government has made concerted efforts to support its property sector, amid data that suggests stalling growth in the region and potential economic choppy waters ahead.
Glencore (GLEN.L)
Mining giant Glencore appears to be making a bit of a comeback today, having seen its stock fall over 4% on Thursday. It's leading risers in the FTSE 100 as of 10.15am, up 2.4%.
Three weeks ago it was revealed that the miner's profits have been halved due to falling commodity prices. Last week, the news broke that its investors are seeking damages over what they described as "untrue statements" in prospectuses, per the FT.
Read more: LIVE: FTSE and European markets rise amid forecast of UK recession
Almost 200 funds are making the complaint, including some managed by Fidelity, Vanguard, Legal & General, HSBC, Abrdn and Invesco.
The complaints allege they “suffered loss” as a result of “untrue statements” and omissions in Glencore’s 2011 prospectus for its listing on the London Stock Exchange as well as its, prospectus for its merger with Xstrata in 2013.
Anglo American (AAL.L)
It's not immediately clear why Anglo American stock is on the up this morning, but it's risen more than 2% in early trade in London.
It may have caught the positive sentiment from China following the news of fresh stimulus to the economy.
Novo Nordisk (NOVO-B.CO)
Danish pharma giant Novo Nordisk's stock was up 1.5% on Monday, as it rolled out its weight loss drug Wegovy in the UK.
The weekly injection will be available in the United Kingdom "through a controlled and limited launch," the company said in a statement.
The drug has been shown to help patients reduce body weight by around 15% when used along with exercise and lifestyle changes. It is so far available in the United States, Norway, Denmark, and as of late-July, Germany.
In recent months, surging demand for the drug, and the company's diabetes drug Ozempic, have bumped Novo's shares and earnings to record highs.
Watch: Country Garden debt deal lifts property stocks
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