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Shares in Fresenius Medical Care fall 1.1 percent in robust volume, extending losses into a fourth straight session and underperforming a 0.2 percent rise for the European healthcare sector, after the world's largest dialysis company reports slightly disappointing earnings.
The introduction of a new reimbursement system in the United States, designed to encourage clinic operators to reduce costs and use drugs more sparingly, resulted in lighter-than-expected U.S. revenue per treatment for the German group, JPMorgan says.
Source : Reuters lire le PDF
Investors should go long on energy stocks and short on healthcare shares, as the broad market's medium-term bullish reversal is going to favour cyclical sectors, Paris-based technical analysis firm Day-by-Day recommends.
"It is indeed time to move away from defensive stocks. We have already recommended an 'overweight' allocation on banks and techs," Day-by-Day head Valerie Gastaldy says.