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The Ibex, pending Gilead-AstraZeneca and crude oil and with the 8,000 & # 039; shooting range & # 039;


This Monday, talks about a possible merger of two pharmaceutical giants, AstraZeneca and Gilead, which fight against the coronavirus, and the agreement between the countries of the OPEC + to extend the historic cut in production by a month, they are going to encourage the rally to continue, according to analysts.

"The news that pharmaceutical giant AstraZeneca made a preliminary approach to Gilead, which has been developing Remdesivir – the only approved US treatment of Covid-19 – should boost investor risk appetite. Although talks between the two companies are not yet formal, this possibility will boost M&A activity that has been severely affected by the coronavirus crisis, "says Ipek Ozkardeskaya, analyst at Swissquote Bank.

Asian stocks have started the week with gains. Chinese exports in May fell less than expected (-3.3% versus -7.0% expected) while Japan's GDP contracted slower than expected in the first quarter of 0.6%.

"But mass protests around the world against the murder of George Floyd and the risk of a renewed increase in Covid-19 cases may cool the environment earlier in the week," adds Ozkardeskaya.

As for oil, this weekend OPEC + decided to extend record production cuts for another month. Brent and Wets Texas are trading above $ 40 on Monday. Analysts say it is "likely that oil investors are looking for buying opportunities to bring the oil rally towards the 200-day moving average ($ 46.40)."

. (tagsToTranslate) Ibex (t) pending (t) Gilead-AstraZeneca (t) crude (t) 8,000 (t) shot & # 039; (t) Category: All (t) Category: Market Report (t) Category: Europe Report (t) Category: International News (t) Category: Pulses (t) Category: Pulses Europe

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