News updates from August 9: Brazilian plane crashes near São Paulo; US stocks end wild week back where they started

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Financial Times 2d ago

News updates from August 9: Brazilian plane crashes near São Paulo; US stocks end wild week back where they started - Financial Times

Quick Summary:

Shares in McKesson, one of the biggest healthcare groups in the US by revenue, fell the most since 2016 as problems related to the supply of popular weight-loss drugs crimped its results.“Product delays and shortages” had in part driven a “slower rate of growth” in demand for the pharmaceutical distribution company’s services business that helps patients secure insurance approval for GLP-1 weight-loss medications, chief executive Brian Tyler told analysts.

The region-wide Stoxx 600 index rose 0.4 per cent at the open, with strong gains for real estate and resources stocks.

Falling mortgage rates have begun to ease house-buying affordability and support demand, UK housebuilder Bellway said in a trading update this morning.Housing revenue was £2.35bn in the year to July, down from £3.4bn in the previous financial year, as the number of new homes Bellway completed fell but the reservation rate from its customers ticked up.