Healthcare stocks dominate the news

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It has been a day of mixed fortunes for healthcare names on both sides of the Atlantic, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

FTSE 100 rebounds, helped by AstraZeneca

AstraZeneca’s numbers have put the fight back in the FTSE 100 as investors around the world gear up for a busy 48 hours of earnings and central bank news. Index heavyweight AstraZeneca provided plenty of good news for UK investors on an otherwise poor day for healthcare stocks; both Novo Nordisk and United Health have come under pressure after bad news, though the former’s surge in earnings seems to suggest the market may now be too cautious on the outlook.

Oil rises for a second day

Easing fears around a global trade war have helped to push oil prices higher for a second consecutive session. Trump’s promises of sanctions on Russia if no Ukraine deal is forthcoming seem a bit far-fetched given his previous views, but the news has certainly helped beaten-down oil prices to make some reasonable short-term headway.

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