Zurich (awp) – The Swiss stock market ended on a clearly positive note on Monday. The SMI rose to just under 20 points from 11,400 points at its highest of the day, in the afternoon. The results season was taking a break, before a lively day on Tuesday with data, in particular, from UBS, Sandoz and Geberit for blue chips.
In New York, Wall Street gained ground in the morning, further benefiting from last weekend’s recovery, after the announcement of the slowdown in American employment in March, which once again suggests a soft landing for the economy. American.
In Switzerland, the hotel industry continued its positive momentum in March and recorded 3.3 million overnight stays, up 3.9% year-on-year, according to provisional data from the Federal Statistical Office.
According to a KOF study, Swiss companies expect inflation to moderate this year. The increase in prices should be on average at 1.6%. Over the next five years, companies forecast average inflation of 1.9%.
The advertising market stalled in 2023, after two years of growth in a row. The sector’s revenues only increased by a small million Swiss francs to 4.2 billion.
The SMI ended with a gain of 0.49% to 11,327.66 points, with a high of 11,381.81 and a low of 11,277.59 at the opening. The SLI advanced by 0.52% to 1856.60 points and the SPI by 0.43% to 15,158.18 points. Of the 30 star stocks, 21 rose, 8 fell and Sandoz finished unchanged.
The generics and biosimilars specialist Sandoz presents its sales for the start of the year on Tuesday, expected to increase to $2.5 billion.
SIG Group (-1.4%) finished bottom, behind Nestlé (-0.4%) and Swatch (-0.3%).
In Canada, nearly 500 employees of the Vevey giant are on strike in the Toronto factory which notably manufactures Kitkat and Smarties.
Roche (bearer +0.8%, good +0.6%) and Novartis (+0.2%) have progressed more or less clearly.
Logitech (+2.4%) led the pack, followed by Swiss Re (+2.0%) and Geberit (+1.8%).
The sanitary facilities specialist publishes its quarterly results on Tuesday and analysts expect sales to fall slightly to 832 million Swiss francs and net profit to fall to 184 million Swiss francs.
The other insurers Zurich (+1.6%) and Swiss Life (+1.5%) also finished at the top of the table, as did UBS (+1.3%). The three-key bank also presents its quarterly results tomorrow. Analysts surveyed by the AWP agency expect a pre-tax result of 1.1 billion dollars and a net profit of 620 million. However, a comparison with the first quarter of 2023 remains inappropriate, as the acquisition of ex-rival Credit Suisse was only absorbed last June.
According to the Financial Times, the banking giant is also preparing to dismiss the management of Credit Suisse, purchased a little over a year ago. The measure would also concern the last boss of the establishment with two sails, Ulrich Körner, who remained in office following the operation.
On the broader market, formerly classified with the blue chips, the temporary work giant Adecco (+0.9%) also publishes its financial statements on the first partial Tuesday The AWP consensus is betting on revenues down slightly to 5.7 billion euros and a net profit down to 62 million.
The online apothecary Docmorris (+2.9%) announced the start of the public repurchase offer period for its outstanding convertible bonds maturing in 2025. This period will expire on May 13.
Travel aggregator Lastminute.com (+2.6%) wants to introduce a new dividend strategy. In the future, 30% to 35% of the company’s annual net profit will be distributed to shareholders.
The Bernese regional banker Valiant (-1.6%) paid the price of a lowering of recommendation by Kepler Cheuvreux to “hold” from “buy”, sanctioning the disappointing performance over the first three months of 2024 of the Bernese banking group.
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