Australian biotech market today 27/5/09
Wednesday, 27 May, 2009
The All Ordinaries are up nearly 1% to 3816.9 after a couple of days of fairly soft trading. The Health indicies are also up 1% in line with the ASX, although from a lower starting point following a slide that started Tuesday last week.
Ramsay Health Care (ASX:RHC) is up 23c to $11.08 following a 2009 financial year update suggesting core EPS growth will likely be 20%, buoyed by the low interest environment, and up from previous estimates of 10-12% growth.
ResMed, on the other hand, slipped 12c, or 2.5%, in the morning trading to $4.72 after another share buy-back, the third in a week.
Other trading was flat or in line with the overall market trend.
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