Leading shares dip slightly after anti-austerity party Syriza wins election in GreeceLeading shares have slipped back after the victory in the Greek elections by anti-austerity party Syriza, but so far there has been no market meltdown.The FTSE 100 is currently down just 4.12 points at 6828.71, and Mike van Dulken, head of research at Accendo Markets, said: While [Syriza’s win] generates uncertainty based on strong desire to leave behind austerity and renegotiate/abandon current Trioika bailout conditions, as well as empower populist movements elsewhere in Europe, a slightly softer party rhetoric of late means losses are considered not as bad as they might have been.This positive outcome validates management’s calculated risk acquiring NPS only weeks ahead of this critical event. We are now consolidating NPS in our forecasts, boosting earnings per share by 6% and 10% in 2016 and 2017 and our price target up 5% to £58.[Shire has] abundant pipeline catalysts. We expect FDA to approve Vyvanse for binge eating disorder around its 1 February PDUFA date based on impressive Phase III data and a Priority Review, with consensus typically undervaluing this commercial opportunity. Continue reading...
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