Zurich (awp) – The Swiss stock market should open slightly lower on Thursday, the day After the status quo on the rates of the American Federal Reserve (Fed) and a public holiday. Investors should focus on Swisscom’s results and a series of macroeconomic data, including April inflation in Switzerland.
The New York Stock Exchange ended up divided on Wednesday evening, after an initial positive reaction to the words of the Fed which, although it sees little recent progress in reducing inflation, rules out a future rate hike.
The American central Bank kept its interest rates unchanged at the end of its last meeting, citing the recent “lack of progress” on the inflation front, but announced that it will deflate the rate more slowly. volume of assets on its balance sheet from June. It left its rates at the highest in more than 20 years, between 5.25% and 5.50%, a range within which they have been moving since July.
The Fed’s announcements were “unsurprising, with no economist expecting a movement on interest rates”, commented John Plassard of Mirabaud Banque. According to the expert “the ‘wait and see’ mode was in the spotlight last night”.
“After a day off, European indices should open slightly lower this morning in the wake of the Fed meeting,” he added in a market note.
On the Swiss Stock Exchange shortly after 8:00 a.m., the flagship SMI index was preparing to open down 0.14% to 11,245.44 points, after closing Tuesday down 0.63%, according to prior indications. Stock market compiled by Julius Bär bank.
The majority of star stocks should open lower, with the exception of Swisscom (+0.9%) and ABB (+0.8%).
Despite falling sales, the blue giant increased its net profit in the 1st quarter. The number one Swiss telecoms company, which announces an appeal before the Federal Administrative Court (TAF) against the decision of the Competition Commission (Comco) concerning the implementation of its fiber optic network, generated a net result of 455 million Swiss francs (+2.9%).
The electrical engineering giant benefited from several positive comments from analysts at UBS and Berenberg.
UBS (-0.7%) is expected to give up its gains, while the other SMI securities showed variations around -0.2%.
The broader market was also draped in red, with the notable exception of EFG (+2.3%) which seemed to benefit from a buy recommendation from Citi.
Galderma (+2.3%) was also popular, driven by new recommendations from experts at UBS, Jefferies, Goldman Sachs, Bank of America and Morgan Stanley.
al/ol
