Novartis, Taiwan Semi Tough to Beat Says Aberdeen Fund Manager

Novartis shares will move higher due to the pharma giant's strong pipeline and healthy dividend, said Martin Connaghan, portfolio manager for the Aberdeen International Equity Fund. Connaghan added that Novartis is benefiting from its exposure to growing healthcare sectors like eye-care with its Alcon division and generic drugs with its Sandoz offerings. He is also bullish on Tenaris, saying the steel pipe maker's shares will rebound once oil prices stabilize. Finally, Connaghan said he expects continued growth from Taiwan Semiconductor due to the company's Apple exposure and cash management.