NEW YORK: equities advanced for the second week in the reporting period to August 11, helped to a large extent by falling crude oil prices, despite supply concerns after a Kurdish militant group claimed responsibility for an explosion at a key eastern Turkey pipeline. The Federal Reserve Bank holding interest rates was another factor, along with some encouraging financial results, leaving the Dow Jones Industrial Index 4.4% higher overall. Most of the big drug and biotechnology companies have finished second-quarter reporting (Marketletters passim), and this week's tally saw 28 of those tracked rising and only eight seeing a decline.
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A specialty pharmaceutical company engaged in the discovery, development, manufacturing and marketing of branded prescription and nonprescription products in more than 60 countries on five continents.
Stock Commentary - New York week to Aug 11, 2008
NEW YORK: equities advanced for the second week in the reporting period to August 11, helped to a large extent by falling crude oil prices, despite supply concerns after a Kurdish militant group claimed responsibility for an explosion at a key eastern Turkey pipeline. The Federal Reserve Bank holding interest rates was another factor, along with some encouraging financial results, leaving the Dow Jones Industrial Index 4.4% higher overall. Most of the big drug and biotechnology companies have finished second-quarter reporting (Marketletters passim), and this week's tally saw 28 of those tracked rising and only eight seeing a decline.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
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