HomeFinance NewsChina LPR capped while US S&P 500 reaches record high

China LPR capped while US S&P 500 reaches record high

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The investment bank Morgan Stanley has named eight biopharma stocks with a ‘Buy’ rating, giving one of them 119% upside potential. Morgan Stanley believes that the biopharmaceutical sector offers a safe haven from macroeconomic and earnings concerns ahead of quarterly results from European companies. In the near term, European biopharma stock prices are expected to be supported due to undemanding valuations and challenging macro conditions, according to the Wall Street bank.

In a separate analysis, the German investment bank Berenberg expects the anti-obesity drug market to remain in focus this year, particularly after a successful 2023 for weight loss drug makers Novo Nordisk and Eli Lilly. They anticipate that new clinical data and the expiry of Novo’s patent for the active ingredient in first-generation GLP-1 drugs will open up new opportunities for several generic drug manufacturers in Europe. Berenberg’s analysts have named four stocks of generic drug makers that are set to benefit from the expiry of these patents.

In other news, the University of Michigan’s Survey of Consumers released a report indicating that consumer sentiment has jumped to its highest level since July 2021. The survey showed a reading of 78.8 for January, a significant increase from a year ago, and the largest two-month increase since 1991. These results come in the face of public concern about the nation’s direction and falling inflation. Overall, this news reflects interesting updates in the investment and healthcare sectors, as well as consumer sentiment and economic indicators.

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