Donald Trump tweet delivers a bitter pill for drug shares

Drug shares took the strain in the US as President Donald Trump tweet a promise of lower priced medicines for Americans, as European shares were little changed ahead of the ECB’s meeting tomorrow.

“The FTSE has stuttered along, with markets waiting for another spark,” said Josh Mahony, market analyst at online broker IG. “Unfortunately, while Trump did provide such a spark, it was negative, with his promise to control drugs prices sending pharmaceutical stocks lower.

“Trump’s promise to control drugs prices highlights that the optimism felt in response to Hilary Clinton’s election loss was clearly misplaced, proving that the topic remains one rare bipartisan area of agreement.”