Swiss drugmaker Novartis AG agreed to pay $245 million to settle an antitrust litigation for allegedly attempting to delay the launch of generic versions of its Exforge blood-pressure medicine in the United States. Reports said, citing an emailed statement, that the settlements require approval by a federal judge in Manhattan. Once approved, it will resolve all outstanding claims against Novartis and Endo International Plc's Par Pharmaceutical unit regarding Exforge, which treats hypertension to lower blood pressure and reduce the risk of strokes. The litigation relates to a 2011 licensing agreement between Novartis and Par unit, who were accused of entering an illegal reverse payment deal to delay launches of less expensive, generic versions of Exforge. The class action was brought in 2018 by direct purchasers, indirect purchasers and retailers including CVS Health Corp, Kroger Co., Rite Aid Corp. and Walgreens Boots Alliance Inc., among others.

Despite opening on a negative note and staying weak till around mid afternoon, the Switzerland stock market ended on a fairly firm note on Thursday thanks to some strong buying at several frontline counters in the final hour of the session. The benchmark SMI, which dropped to a low of 10,737.90 in early trades, ended the session with a gain of 44.68 points or 0.41% at 10,857.35. Sonova surged 2.03% and Credit Suisse climbed 1.88%, while Lonza Group, Partners Group, Alcon and Swisscom gained 1 to 1.3%. Logitech, Swiss Re, ABB, Givaudan, Sika, Swiss Life Holding, Geberit and UBS Group also ended on a firm note. Shares of drug maker Novartis gained about 0.3% after the company said it will pay $245 million to end anti-trust cases over a U.S. generic drug. Among the stocks in the Mid Price Index, Zur Rose gained 5.3%, rebounding after posting a sharp loss in the previous session. AMS surged 2.6% and VAT Group gained about 2.4%. Bachem Holding, Temenos Group, Tecan Group, Straumann Holding, Lindt & Spruengli, Adecco, Belimo Holding and PSP Swiss Property gained 1.2 to 2%.

European stocks started off on a weak note on Thursday, but gained in strength as the session progressed and eventually ended on a positive note even as investors continued to weigh the possible impact of rising interest rates on global economic growth. Worries about rising Covid-19 cases in China weighed as well, but markets gained as investors looked to pick up stocks that had taken a severe beating in some recent sessions on recession fears. There are concerns China may not be sharing data on any signs of evolving strains that could spark fresh outbreaks in countries around the world. After Beijing announced plans to reopen its borders, Italy, Japan, Taiwan, India and the United States have announced mandatory tests on visitors from China. The pan European Stoxx 600 climbed 0.68%. The U.K.'s FTSE 100 gained 0.21%, Germany's DAX surged 1.05% and France's CAC 40 gained 0.97%, while Switzerland's SMI advanced 0.41%. Among other markets in Europe, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkiye closed higher. Greece ended weak, while Czech Republic and Iceland closed flat. In the UK market, Scottish Mortgage surged 3.75%. Airtel Africa climbed 2.6%, while Next, DCC, Schrodders, Entain, Ocado Group, Segro, St. Jame's Place, RightMove, Auto Trader Group, Pershing Square Holdings, ABRDN and United Utilities gained 1 to 2%. Antofagasta ended more than 2% down. Anglo American Plc, Imperial Brands, British American Tobacco, Fresnillo and BAE Systems posted moderate losses.

and UBS Group also ended on a firm note. Shares of drug maker Novartis gained about 0.3% after the company said it will pay $245 million to end anti-trust cases over a U.S. generic drug. Among the stocks in the Mid Price Index, Zur Rose gained 5.3%, rebounding after posting a sharp loss in the previous session. AMS surged 2.6% and VAT Group gained about 2.4%. Bachem Holding, Temenos Group, Tecan Group, Straumann Holding, Lindt & Spruengli, Adecco, Belimo Holding and PSP Swiss Property gained 1.2 to 2%.
International markets
Europe
European stocks started off on a weak note on Thursday, but gained in strength as the session progressed and eventually ended on a positive note even as investors continued to weigh the possible impact of rising interest rates on global economic growth. Worries about rising Covid-19 cases in China weighed as well, but markets gained as investors looked to pick up stocks that had taken a severe beating in some recent sessions on recession fears. There are concerns China may not be sharing data on any signs of evolving strains that could spark fresh outbreaks in countries around the world. After Beijing announced plans to reopen its borders, Italy, Japan, Taiwan, India and the United States have announced mandatory tests on visitors from China. The pan European Stoxx 600 climbed 0.68%. The U.K.'s FTSE 100 gained 0.21%, Germany's DAX surged 1.05% and France's CAC 40 gained 0.97%, while Switzerland's SMI advanced 0.41%. Among other markets in Europe, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkiye closed higher. Greece ended weak, while Czech Republic and Iceland closed flat. In the UK market, Scottish Mortgage surged 3.75%. Airtel Africa climbed 2.6%, while Next, DCC, Schrodders, Entain, Ocado Group, Segro, St. Jame's Place, RightMove, Auto Trader Group, Pershing Square Holdings, ABRDN and United Utilities gained 1 to 2%. Antofagasta ended more than 2% down. Anglo American Plc, Imperial Brands, British American Tobacco, Fresnillo and BAE Systems posted moderate losses.
United States
The S&P 500 jumped Thursday in one of the last trading sessions of the year but remained on track to close out its worst year since the 2008 financial crisis. The broad-based stock index added 66.06 points, or 1.7%, to 3849.28, its largest one-day gain of the month. The technology-focused Nasdaq Composite gained 264.80 points, or 2.6%, to 10478.09. The Dow Jones Industrial Average added 345.09 points, or 1%, to 33220.80. U.S. stock benchmarks had pulled back Wednesday. The gains stretched across industries Thursday, with all 11 of the S&P 500's sectors advancing for the day. Tech stocks were among the best performers, with some recent stock-market losers outperforming the broader market. Tesla shares, for example, shot up $9.11, or 8.1%, to $121.82. They remain down 65% for the year. Shares of Apple, Alphabet and Meta Platforms, which are headed for one of their worst years on record, also outperformed the broader market, adding at least 2.8% each. With just one trading session left in 2022, many investors are likely to end the year nursing heavy losses. As of Thursday, the Dow industrials, S&P 500 and Nasdaq Composite were down 8.6%, 19% and 33%, respectively, this year. "Investors desperately want to end the year on a bullish note, but I think that is pretty offsides with the facts," said Hans Olsen, chief investment officer of Fiduciary Trust Company. Mr. Olsen said he is cautious heading into the new year, wary that higher interest rates could weigh on stock returns in the coming months. In the last days of the year, investors are considering what China's shift away from a zero-tolerance approach to Covid-19 means for markets.

The stock markets in East Asia and Australia are showing a friendly trend on the last trading day of the turbulent year 2022, which was characterised by interest rate hikes by the major central banks and recession worries. In Tokyo, the Nikkei 225 index rises by 0.3 per cent in the course of Friday. However, the index has lost almost 10 per cent since the beginning of the year. The annual results of other trading centres are also disappointing. In Shanghai, the Composite Index is currently up 0.6 per cent, but has accumulated losses of over 14 per cent for the year.

In U.S. bond markets, the yield on the benchmark 10-year Treasury note ticked down to 3.833% from 3.886% Wednesday. Yields and prices move inversely.

DZ raises Südzucker target to EUR 16.50 (14.75) – Hold

Produced by MBI Martin Brückner Infosource GmbH & Co. KG on behalf of Swissquote. All news is acquired with journalistic accuracy. No liability is assumed for delays or errors.