Australian biotech market watch 05/03/10
Friday, 05 March, 2010
Not even an interest rate rise could put a dampener on the stock market this week, with the All Ordinaries up by 125 points, or 2.7 per cent, from Monday.
In contrast, the life sciences index has been a little more turbulent, slipping through to Thursday before a rebound in trading this morning to 8,733.
The lion's share of the rebound is due to the biotech gorilla, CSL (ASX:CSL), bumping up 66c, or 1.9 per cent, to $35.45, following news that CSL's subsidiary, CSL Behring, has been given the go ahead by the US Food and Drug Administration to market a new blood plasma product.
ResMed (ASX:RMD) also saw an 8c lift to $6.60.
The rest of the market has been relatively steady, although Primary Health Care did take an 11c dip to $4.15.
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