Is it because investors, in these turbulent times, are pouring their money into safe haven stocks? Let’s find out!
Hi, I’m Flavio from Kieger.
When looking at the 2 top contributors for Healthcare, the magnificent two, Eli Lilly and Novo Nordisk, stand out. Both are riding the GLP-1 wave and rose 63% and 53% respectively. Together they were responsible for 55% of the positive performance contribution.
Looking at the bottom of the table we had Pfizer and Johnson & Johnson. Pfizer still tries to recover from post-Covid-19 hangover and dipped 39%, while J&J on its weak medtech business, fell 13.% . Cumulated they accounted for 24% of the negative contribution.
2023 was an exceptional year and we believe that 2024 should see some normalisation for GLP-1 and Covid-19 exposed stocks and thus, we expect concentrations at the upper and lower end to ease again.
