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UBS analysts predict a continued rally in gold prices, forecasting they will reach $2,800 by the end of 2024 and $3,000 by 2025. This optimism is driven by strong demand, falling interest rates, a weakening US dollar, and geopolitical tensions, which position gold as a safe haven. Central banks are expected to increase their gold reserves, while consumer demand in major markets like China and India remains stable despite rising prices.
Ares Management is set to acquire GCP International for $3.7 billion, a move that will nearly double its real estate assets under management to approximately $96 billion. The deal, which includes $1.8 billion in cash, will enhance Ares' global presence and capabilities in high-growth sectors like industrial real estate and data centers. The transaction is expected to close in the first half of 2025.
Eli Lilly has partnered with AI firm Insitro to advance drug development, focusing on metabolic diseases. The collaboration includes three agreements, allowing Insitro to retain global rights to its research while Lilly benefits from milestone payments and potential royalties. Insitro will utilize Lilly's delivery technology alongside its own innovations to target liver conditions and develop new treatments.
David Baker, Demis Hassabis, and John Jumper have won the Nobel Prize in Chemistry for their groundbreaking work in computational protein design and structure prediction, significantly advancing drug design capabilities. Alnylam Pharmaceuticals seeks FDA approval for vutrisiran to treat a severe form of transthyretin amyloidosis, while Johnson & Johnson halts a bladder cancer trial for TAR-200. AstraZeneca invests in a preclinical cholesterol-lowering drug, and Astellas acquires rights to an experimental gene therapy for frontotemporal dementia.
NVIDIA shares are poised for a potential comeback, with analysts maintaining a strong buy recommendation. The stock is currently trading about 15% below the average price target of USD 152.44, with significant growth expected as the seasonal phase strengthens from October 29, historically yielding over 10% gains in the following weeks.
Wall Street braces for earnings reports from major financial firms, including BlackRock, JPMorgan, and Wells Fargo, with expectations of a modest quarter. The financial sector is projected to see a 0.4% year-over-year earnings decline, largely driven by a 12% drop in bank earnings due to rising deposit costs. In contrast, other financial industries are expected to show positive growth, with Capital Markets leading at 11%.
Markets are poised for the upcoming US inflation data, which could influence the Federal Reserve's interest rate decisions. While the DAX struggles to maintain the 19,000-point mark, tech stocks, particularly NVIDIA, are gaining traction, with analysts remaining bullish on their prospects. A modest interest rate cut is anticipated at the next FOMC meeting, reflecting a shift in market sentiment following strong US employment growth.
Avania has acquired Anagram, a leading Spanish medical technology CRO based in Barcelona, to enhance its CRO offerings in Southern Europe. Founded in 1998, Anagram specializes in cardiology, oncology, and neurology, providing comprehensive clinical development services. This acquisition will expand Avania's geographic reach and expertise, benefiting its clients with increased resources and capabilities in the MedTech sector.
UnitedHealthcare's partnership with Hazel Health aims to provide mental health services to up to 1 million students across 14 states by 2025, ensuring access regardless of insurance status. The initiative, which has already begun in Iowa, emphasizes the importance of delivering care within school settings, where students spend significant time. Hazel Health, which previously reached 2.5 million students, is set to expand its presence and services through this collaboration.
Tryon Medical Partners, Charlotte's largest independent physician practice, has partnered with private equity firm TPG to enhance operations and meet rising patient demand. Despite concerns about private equity's impact on healthcare, Tryon’s CEO assures that clinical control remains with physicians, emphasizing a commitment to quality care at competitive prices. The deal reflects a broader trend of physician practices seeking private equity investment to navigate a challenging healthcare landscape dominated by large hospital systems.
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14:46 09.10.2024
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14:38 09.10.2024
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13:29 09.10.2024
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12:47 09.10.2024
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Joe Biden
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12:37 09.10.2024
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FRA
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ESP
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DEU
USA
Jasmine Saba
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09:00 09.10.2024
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USA
Krista Nelson
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09:00 09.10.2024
IQVIA Holdings Inc.
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Atrium Health Foundation
USA
Zoey Kernodle
Dale Owen
Erin Fuse Brown
Matthew Hanis
Mary Bugbee
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09:00 09.10.2024
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