Sector Update: Health Care Stocks Slip But Outperform Broader Friday Markets as COVID Worries Re-Emerge

Last Updated: Friday, November 26, 2021 1:05 PM | MT Newswires

Health care stocks were mostly lower this afternoon but outperforming most other sectors, with the NYSE Health Care Index falling 0.5% while the SPDR Health Care Select Sector ETF (XLV) was down 0.6%.

The Nasdaq Biotechnology index, meanwhile, was climbing 0.4%.

In company news, Bruker BioSciences (BRKR) rose 8.7% after S&P Dow Jones Indices late Wednesday said the scientific instruments company will replace KAR Auction Services (KAR) in the S&P MidCap 400 index, which will be taking over magazine publisher Meredith's (MDP) spot in the S&P SmallCap 600 following its upcoming acquisition by IAC/Interactive Corp (IAC) next week.

Qiagen (QGEN) climbed 3.6% after the diagnostics company Friday said its polymerase chain reaction tests remain accurate and effective in detecting the new COVID-19 variant found this week in South Africa.

Valneva (VALN) rallied again on Friday, at one point surging about 20% to a a best-ever $59.84 a share and adding to a 7% advance on Wednesday after announcing an advance purchase deal with the European Commission for its COVID-19 vaccine. The company expects to deliver 24.3 million injections of its VLA2001 vaccine to EU member countries, subject to approval of the vaccine by the European Medicines Agency.

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