Stocks to Watch Wednesday: Freeport-McMoRan, Glencore, Novo Nordisk -- WSJ

Dow Jones
Jul 09

By WSJ Staff

Freeport-McMoRan (FCX): The miner's shares rallied Tuesday after President Trump said he would impose 50% duties on copper imports, sending prices for the metal soaring. Freeport shares rose 2% in premarket trading Wednesday.

Glencore (UK:GLEN), Anglo American (UK:AAL), Zijin Mining Group (HK:2899), Jiangxi Copper (HK:358): Shares of overseas copper producers fell after Trump's tariff threats.

Novo Nordisk $(NVO.AU)$, Sanofi $(SNY)$, AstraZeneca $(AZN)$: Trump threatened 200% tariffs on pharmaceutical imports Tuesday, but said they wouldn't go into effect for a year and a half. Shares of overseas drugmakers edged lower in Europe, while U.S. peers such as Pfizer $(PFE.AU)$ and Eli Lilly (LLY) were little changed.

WPP $(WPP)$: Shares in the advertising conglomerate tumbled 17% in London after it said clients were pulling back on spending. Its U.S.-based rivals Omnicom (OMC) and Interpublic $(IPG.AU)$, which are merging, fell premarket.

UniCredit (IT:UCG): The Italian lender converted part of its position in Germany's Commerzbank (XE:CBK) into stock, doubling its equity stake as it pursues a merger. Shares of both banks climbed.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

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July 09, 2025 05:17 ET (09:17 GMT)

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