The rise in oil companies is framed by the increase in oil prices that were driven by a sharp decline in commercial US crude reserves, and are approaching their October highs.
A barrel of Brent from the North Sea for March delivery closed in London up 1.13% at $ 84.67. During the day it reached $ 85.21 per barrel, close to $ 86.70 on October 25, which was a peak since 2018.
Among the largest decreases was Philips, which decreased by 15.8%. The company reported during the session on Wednesday that sales for the last three months of the year would be around 4.9 billion euros, which means cutting the estimates previously made by the company by 350 million.
Philips recently had, in addition, a conflict with the operation of its respirators that are used in patients with coronavirus. In turn, the shortage of chips and other electronic components had a negative influence on its production chain, which was seriously affected.
Another big drop was Biogen papers, which fell 8.7%. From the health program of U.S, Medicare, was said to only cover the company’s Alzheimer’s drug for patients who are willing to enroll in qualified clinical trials. The company also got a rebate from Piper Sandler.
Meanwhile, Wall Street rose on Wednesday after consumer price data met market expectations and eased some concerns about interest rate hikes that could rise faster.
Source From: Ambito
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