Australian biotech market watch 07/04/10
Wednesday, 07 April, 2010
News of a further awakening economy and the possibility of more interest rate rises has seen the All Ordinaries nudge up another 11.5 points in morning trading to 4,985, primarily driven by IT and utilities.
Health stocks are also generally up, with the Big Three making moves in recent days.
CSL (ASL:CSL) has risen, nudging $36.50 in the last week or so, and is up 31c to a nice round $36.36 today.
Cochlear (ASX:COH) up a further 76c, or 1%, to $73.31 after strong rises throughout March.
ResMed (ASX:RMD) taken a 2% dip, down 14c to $6.79, on the back of news that CEO, Kieran Gallahue, has sold 25,000 shares.
Impedimed (ASX:IPD) is also up 1% to 77c after lodging another application with the FDA to expand usage of the L-Dex U400 device, which could increase its market in the United States.
Regenerative medicine company, Mesoblast, is also up 1.5% to $2.09.
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