In QuotedData’s morning briefing 13 May 2025:
- Yesterday, President Trump signed a new Executive Order which aims to cut drug prices. However, the share prices of many large cap US pharmaceutical companies rose on the day as part of the relief rally associated with US/China tariff reductions. No drugs were mentioned by name and the last time this was tried the pharma companies successfully blocked it in the courts. The NAVs and share prices of almost all of the constituents of the biotech and healthcare sector have retreated since Trump won last year’s election, partly in anticipation of a move such as this.
- Castlenau (CGL) is issuing shares to Hornby shareholders as it seeks to delist that company. 5,528,656 Hornby shares will be exchanged for 1,056,457 new Castlenau shares.
- Caledonia (CLDN) says it will announce results for the 12 months ended 31 March 2025 on 20 May 2025.
- VinaCapital Vietnam Opportunity’s (VOF) new NAV as at end April 2025 reflects the shock of Trump’s initial 46% proposed tariff on Vietnam. The NAV fell by 10.9% in sterling terms.
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