MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

EZ/UK Bond Supply Calendar: Belgium Auction, BoE APF on Monday

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Glaxo (GSK: A2/A): Zantac Update

HEALTHCARE
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Glaxo has shed nearly £7bn in market cap post the Zantac ruling in Delaware.

  • The move takes the share price back to Mid-April levels so just reversing some of the positive sentiment built up in the name recently.
  • GSK’s main near-term growth drivers are its vaccines Arexvy (RSV) and Singrix (shingles) which still put the equity up 11% YtD.

Bonds are quoted around +9 wider for GSK 3.125 32 and GSK 1.75 30

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Glaxo has shed nearly £7bn in market cap post the Zantac ruling in Delaware.

  • The move takes the share price back to Mid-April levels so just reversing some of the positive sentiment built up in the name recently.
  • GSK’s main near-term growth drivers are its vaccines Arexvy (RSV) and Singrix (shingles) which still put the equity up 11% YtD.

Bonds are quoted around +9 wider for GSK 3.125 32 and GSK 1.75 30