We attended the biannual International Dental Show (IDS) from March 21 to 25 2017 in Cologne, Germany, including expert meetings, booth tours and the Straumann investors breakfast.
With over 140’000 visitors and 2’300 exhibitors from 60 countries IDS is the worldwide landmark trade fair in dentistry. We had the impression that in general the tone at the show was upbeat with companies pointing to significant foot traffic at booths and stable to improving end markets. Product introductions were more evolutionary than in previous years.
The MSCI World Healthcare NR Index returned -2.7% in February, while the MSCI World NR Index rose 2.6%. During the last week of the month, many sectors took a hit because of rising 10-year Treasury rates (now at their highest levels in a year), enhancing on one hand the attractiveness of bonds vs. Equities and on the other hand propelling cyclical stocks.
Healthcare started 2021 on a very positive note, outperforming most of the other sectors (Energy, 3.0%, being the sole exception). The MSCI World Healthcare Net Return (NR) Index gained 1.1% in January 2021, while the MSCI World NR Index declined 1.0%.
The MSCI World Healthcare Net Return (NR) Index rose by 9.0% in November 2020 and the MSCI World NR Index gained 12.8%. November was the best month for global equities year-to-date (12.8%), with cyclicals outperforming defensive sectors.