Article By RoboForex.com
Speculations over possible takeovers in the bio-tech sector continue. Patents for “blockbuster“ medicines are rapidly becoming void. Leaving only 2 options for large pharmaceutical companies. They can either invest billions in research, this being expensive, taking a long time and ultimately the state cab refuse to license the product. Or, as a second option, they can takeover already existing companies with interesting strategies and patents. As such and according to insiders, the US health giant Johnson & Johnson is looking to acquire the Swiss biotech company Actelion. Actelion is Europe´s largest biotech company. Representatives of both companies have not commented.
The DAX is in a sideways trend. Resistance is at 10820, support at 10250.
The Euro is in a downward trend
The USD is in an upward trend
Gold is in a downward trend
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WTI Oil is in an upward trend
Trade was very quiet on Friday, the day after Thanksgiving. The DAX gained 0.09% into the close. Investors continued to be sidelined. Largest losing stitch in the DAX was Thyssen Krupp, losing -2.9%. E.On was on the winning side, gaining 1.64%. Post-Thanksgiving, Friday saw Wall Street close early at 19:00. The S&P 500 rose 0.39%, reaching a new all-time high during this shortened session. There was not much volatility in single shares as a whole. First Solar gained 2.75%. Asian stocks are up this morning. The USD loses -0.61% against the Euro and -1.11% against the Yen. Gold trades up whilst WTI Oil drops 0.91%.
RoboForex Analytical Department
Article By RoboForex.com
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