In the rush to large-cap, high quality, dividend-paying pharmaceutical stocks amid news the Brexit had passed the vote, Europe’s healthcare index has erased virtually all its losses.
British pharmaceutical stocks such as AstraZeneca and GlaxoSmithKline led the gains, with shares of both companies up 10.5 percent and 7.5 percent, respectively, in the past three sessions.
According to Reuters, the UK’s large-cap healthcare sector’s appeal was positioned to embark on a faster recovery because a significant share of its revenues come from outside Britain.
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