Zurich (awp) – As midday approached Thursday, the SMI fell, while remaining above 12,100 points. Investors now have their eyes on the United States, where inflation figures for September will be published this afternoon.
These statistics will be decisive for the monetary policy of the American Federal Reserve (Fed). Analysts say that if consumer prices are higher than expected, the Fed may not touch its key rates in November.
“Brokers expect inflation to be stable from the previous figure, but any unexpected results could introduce volatility, especially if the Consumer Price Index (CPI) is higher than expected, which could dampen inflation. “momentum of the dollar”, comments Ricardo Evangelista, senior analyst at ActivTrades.
On the Swiss Stock Exchange, the flagship SMI index fell around 11:00 a.m., falling 0.04% to 12,117.46 points. The SLI also lost weight, falling 0.10% to 1983.06 points. The SPI for its part decreased by 0.06% to 16,159.22 points. Of the thirty star values, eleven advanced, one reached equilibrium and eighteen retreated.
Late Thursday morning, Swiss Re (+2.0%) regained the lead in the ranking from Givaudan (+0.7%). The Geneva-based flavorings and perfumes giant reported an increase in turnover over nine months on Thursday. From January to September, the group’s revenue increased by 7.2% to 5.6 billion Swiss francs.
Sandoz (+0.4%) and Sonova (+0.4%) came just behind.
Novartis (+0.2%) was also moving in positive territory. The Competition Commission (Comco) on Thursday closed its investigation against the Basel pharmaceutical giant, suspected of having used a blocking patent to protect itself from its rivals.
On the other hand, UBS (-0.2%), after increasing its gains, tumbled. The first funds from Credit Suisse clients have been transferred to the platform of the leading Swiss bank.
Partners Group (-0.9%) also found itself in negative territory. Kindercare Learning, the asset manager’s portfolio company, has completed a successful initial public offering (IPO) in New York. The company raised $576 million (495 million Swiss francs at today’s rate) and the share price rose 8.9% to $26.13.
Lonza (-1%) and Vat Group (-1.4%) were awarded the last places in the ranking.
Kühne+Nagel (-1.2%) continued its fall. The Schwyz transport and logistics giant has strengthened its presence in Spain by signing a contract with the Portuguese automobile equipment manufacturer and distributor Salvador Caetano for the distribution and storage of spare parts intended for its 37 Spanish repair centers.
Sika (-2.1%) was left behind.
On the broader market, Kuros (-3.8%) fell sharply after the publication of its nine-month figures.
Baloise (+0.3%) progressed, however. Its boss Michael Müller opposed the demands of shareholder Cevian, who believes that the insurer is not going far enough in its restructuring. The activist fund is demanding in particular the sale of activities in Germany.
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