NEW YORK (dpa-AFX) – The US stock exchanges continued to rise on Monday. At the beginning of a week dominated by important central bank decisions, however, the willingness to buy was limited. The leading index Dow Jones Industrial claimed about an hour after the start of trading a plus of 0.05 percent to 33,892.70 points. The market-wide S&P 500 went up 0.13 percent to 4304.42 points. The technology-heavy selection index Nasdaq 100 held up better with a gain of 0.49 percent to 14,600.95 points – even in the year to date it is clearly ahead.
After the US inflation data on Tuesday, the interest rate decision by the US Federal Reserve is on the agenda the following day. The European Central Bank (ECB) will provide information on its future monetary policy on Thursday. The Fed is expected to pause after ten hikes totaling five percentage points. The designated Fed Vice Chairman Philip Jefferson recently sent such a signal. Another rate hike is then expected for July. For the ECB, experts are already expecting this on Thursday.
The fact that the Swiss pharmaceutical giant Novartis wants to strengthen its kidney pipeline with the takeover of Chinook Therapeutics catapulted the shares of the US biotech company by more than half their previous value to 37.42 US dollars. Novartis estimates the value of the transaction at up to $3.5 billion. This includes a cash payment of $40 per Chinook share (totalling $3.2 billion) and an eventual cash bonus of up to $4 per share upon achievement of certain development results. The Novartis titles increased by almost one percent in Zurich.
At Biogen, it was only enough for a plus of two percent after clearer premarket gains. The Chinook industry colleague received the approval recommendation of the advisory board of the responsible US authority FDA for an Alzheimer’s drug.
The shares in the Chinese electric car manufacturers Nio and Xpeng, which are listed in New York, were in greater demand: thanks to significant price reductions and numerous advance orders for a new model, they rose by 7.3 and 12.7 percent, respectively.
In contrast, the titles of the self-listed technology exchange Nasdaq lost 10.8 percent. It announced that it would swallow the software provider Adenza for $10.5 billion in cash and its own shares. Adenza, under its Calypso and AxiomSL brands, provides programs for financial market firms to help them manage risk and ensure regulatory compliance. The seller is the software holding company Thoma Bravo./gl/jha/
2023-06-12 14:55:34
#ROUNDUPEquities #York #Modest #gains #herald #central #bank #week
