Article By RoboForex.com
The Big Picture
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.
DAX
The DAX is in a sideways trend. Resistance is at 10820, support at 10250.
Euro / USD
The Euro is in a downward trend
USD / JPY
The USD is in an upward trend
Gold
Gold is in a downward trend
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WTI Oil
WTI Oil is in an upward trend
Overnight:
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%.
Economic Data:
- 16:30: USA, Dallas Fed Manufacturing Business Index
Quarterly Results:
- No relevant data
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
