Plenty of red across the board yesterday with a number of companies giving up gains from recent days.
I know PoS has also become aware of this but I thought it would be good to bring it to everyone's attention; Bell Potter are really starting to be active in the biotech space with the release of a number of research reports and recommendations on ASX listed biotechs. Hopefully its a sign of things to come; a switch from miners to bios.
Winners and losers IMU was up 28.57% for the day, ensuring that the biotech sector had at least one 20%+ gain for the third consecutive gain. ECQ was also better off, gaining 15.39% on Thursday and EMS once again continued its upward surge to close up 13.89%. The two losers for the day were BNE down 33.33% after giving up its gains from Wednesday and CNN down 25%.
Although it was generally a poor day for biotechs yesterday, let's hope we can continue the recent form and have a couple of 20 plus percent rises today to finish over a rather strong week.
