Zurich (AWP) – The Swiss Stock Exchange is expected to record first positive exchanges Thursday, in the opposite direction to the fence at half mast the day before Wall Street. The morose prospects of the American Central Bank (Fed) about the state of health of the United States economy and climbing in the trade war between Beijing and Washington were right for international stock markets.
“The European clues should be down this morning before a long weekend. It is always and still the trade tensions that bring despair, frustration, anger, interrogation and capitulation to investors, but also to the president of the Fed. The latter had the Economic Club of Chicago the Specter of Stagflation, he observes to hover last night.
The meeting of the European Central Bank (ECB) and real estate statistics in the United States are on the program of the day.
Around 8:10 am on the Swiss Stock Exchange, the SMI gained 0.39% to 11,643.95 points, according to the pre-bours calculations of Bank Bär. The 20 constitutive values of the flagship index appeared in green, except for Geberit (-0.1%) and Sika (-0.2%).
At the top of the table, ABB (+3.5%) gave rise to results up over the first three months of the year and confirmed its objectives for the whole year, despite the context of tensions caused by the trade war. The group also wants to empower and listed its Robotics division on the stock market.
-Clariant (+1.3%) took advantage of its appeal, accepted by the Arbitral Tribunal of Six Group, against a decision of the Sanctions Commission of the Swiss Stock Exchange ordered in May 2023 the chemist of specialties to a fine of 500,000 Swiss francs for negligence of its obligation of publication concerning the annual report 2021. The sentence inflicted on the Rhenish group was reduced to 100,000 Swiss francs.
Further on, the UBS banking giant took 0.5%, followed by Richemont (+0.3%) and Logitech (+0.2%).
The three heavyweights on the coast, Roche, Nestlé and Novartis advanced hand in the hand of 0.2%.
Vat released 3.2% although its order entries increased by 2.5% over a year in the first quarter to 241.7 million Swiss francs. Geopolitical upheavals make the market environment uncertain and volatile, indicated the company Saint-Galloise.
IB/al
