Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Drugs stocks boosted by Clinton defeat

Wednesday, November 9, 2016 2:09
% of readers think this story is Fact. Add your two cents.

The stock market bloodbath that was expected following Donald Trump’s electoral victory has not materialised, largely due to rocketing pharmaceutical and precious metals mining stocks.

The FTSE 100, which closed last night at 6,843, slumped early doors to 6,696, but has since recovered to around 6,773.

Investors are predictably seeking the safety of defensive stocks such as Fresnillo PLC (LON:FRES), up 9%, and Randgold Resources Limited (LON:RRS), up 7%, as the dust settles following Trump’s triumph.

They are joined at the top end of the Footsie leader board by pharmaceuticals stocks, which are wanted – not because Trump won, but because Hillary Clinton did not.

Clinton had pledged to clobber the pharmaceutical companies should she be elected, and with that threat removed the market has stampeded back into drugs companies shares, which are, in any case, traditionally viewed as defensive holdings.

Footsie winners

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.