Zurich (awp) – The Swiss stock market was heading towards an indecisive opening on Wednesday. Capital holders lacked elements to guide their investment strategies, Wall Street having ended Tuesday’s session without any real direction and the corporate results season slowly running out of steam.
“European indices should open without trend this morning in the wake of Wall Street’s close in very low volumes, with investors looking for elements that can convince them that the ECB and the Fed will cut their rates quickly,” believes namely John Plassard, of Mirabaud Banque.
At 8:10 a.m., the preSMI extrapolated by Julius Bär lost 0.10% to 11,500.99 points, on a broad red front.
The only survivor, the bathroom equipment manufacturer Geberit (+1.4%) benefited from a hold versus sell recommendation from CFRA, the day after a quarterly situation update.
UBS (-0.6%) saw Moody’s raise the assessment of its debt capacity by one notch. However, the New York rating agency does not rule out reversing its steps, the outlook having been revised to “negative”.
The heavyweights Nestlé, Novartis and the good Roche fell in unison by 0.1%.
On the broader market, Adecco (+1.4%) is now recommended for purchase by RBC, which until now provided a neutral assessment.
The energy meter manufacturer Landis+Gyr (+3.4%) had a more successful 2023/24 financial year than expected and in the process raised the remuneration of its shareholders.
The aerospace industry subcontractor Montana Aerospace (not followed) returned to negative figures for the first three months of the year and confirmed its targets for the current financial year and beyond.
The financial director of the ambient air specialist Arbonia Daniel Wüest has decided to work for the online apothecary Docmorris (+0.1%) in the future.
The Geneva pharmaceutical group Relief Therapeutics (not listed) has acquired a complete management team.
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