Zurich (AWP) – The morning rebound in the Swiss stock market had long given up before mid -session on Tuesday. To the throbbing uncertainty around the evolution of the trade war between the United States and the rest of the world is now added a tension access, at the dawn of the opening of the traditional meeting over two days of the main monetary policy committee (FOMC) of the Federal Reserve (Fed) in the country of Uncle Sam.
Customs duties on US imports have increased significantly since the FOMC January meeting, darkening the prospects for growth and inflation which this committee will have to take into account, observes Jonathan Pingle, at UBS.
“It seems obvious that the Fed will seek to delay to gauge the effect of customs duties on growth and inflation before carrying out the next movement,” said Ipek Ozkardeskaya, star analyst at Swissquote.
In our latitudes, the unemployment rate marginally fell in April, at 2.8% against 2.9% in March. Purchase managers in China services have feverishness symptoms, against the backdrop of trade tensions with the United States. The PMI index in the euro zone has maintained above the growth threshold.
At 11:00 a.m., the Swiss Market Index (SMI) is undergoing 0.03% to 12,228.95 points, the Swiss Leader Index (SLI) from 0.10% to 1983.99 points and the Swiss Performance Index (SPI) from 0.04% to 16,654.53 points. Out of the thirty main valuations twelve met and the other 18 took the path of the cellar.
The equipment supplier of ease Geberit won 0.7%, after being tossed in the start of the session. The Zurich industrialist certainly displays a more generous growth than expected over the first three months of the year, but the phenomenon is largely attributed to an anticipation effect before price increases. Profitability has also proven to be disappointing.
The logistician Schwytzois Kühne+Nagel (-2.3%) kept the provisional red lantern, when the giant of the generics and biosimilars Sandoz was always on the right end of the classification, without any particular indications.
On the enlarged market, the Schwytzois Oerlikon conglomerate (+16%) has found a buyer (-1.0%) a buyer for its activities in textile machines and can focus in the future on surface coverings, for which it still hopes for a modest sales increase throughout the current exercise.
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