Zurich (AWP) – The Swiss Stock Exchange began Monday’s session on tiptoe, the SMI hardly playing in green. In April, inflation, which has long turned into Swiss consumers and businesses, was zero as much over a year as a month. The prices of the barrel of oil were falling, the Brent and the West Texas Intermediate (WTI) losing 2.5 and 2.7%respectively.
“The week begins with a sharp drop in oil prices,” said Ipek Ozkardeskaya, of Swissquote, after OPEC+ announced to accelerate production. However, global growth forecasts have weakened due to the trade war between Washington and a good part of the world. The reasons for such an announcement “are unclear,” added the expert, citing Donald Trump’s desire to keep low energy prices to promote “Made in USA” or even the will of Saudi Arabia to punish the other members of the organization, even to infringe the American shale gas actors.
In Switzerland, inflation remained perfectly stable over a year (+0.0%) in April, underlined Arthur Jurus of Oddo BHF in a comment, noting that imported products have largely weighed down, while residential rents stand out as the only major source of structural inflation. If inflation is just in the range favored by the Swiss National Bank (BNS), the majority of analysts think that the Institute will reduce its key rate to 0% in June.
Around 9:10 am on the Swiss Stock Exchange, the SMI star index was nibbled 0.16% at 12,279.89 points, after having completed 1.1% on Friday. The SLI took 0.18% at 1991.56 points and the SPI 0.14% at 16,708.29 points. Of the thirty star values, 21 advanced, the good Lindt was treading up and eight lost ground.
Sandoz led dance (+1.9%) to Sonova (+0.9%), Swisscom and Givaudan Ex-Aequo (+0.6%each).
-The good rock scraped 0.2%, behind Nestlé and Novartis (+0.3% each).
UBS was 0.2%. The Luxury Richemont (-0.2%) and Swatch Group (-0.4%) values were also drinking the cup. The red lantern returned to Adecco (-1%).
On the enlarged market, Ams-Osram tumbled 4.6%, after Research Partners degraded the group’s recommendation to “sell”, against “keep” previously. The price of courses is noted at 5.80 Swiss francs, compared to 5.30 Swiss francs.
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