Zurich (awp) – The Swiss Stock Exchange abandoned most of its gains from the previous day in early trading on Tuesday, falling in concert with its counterparts on the Old Continent. In a rather calm economic agenda, investors focused on the rare company results and numerous analyst comments.
On the macroeconomic front, Germany has just noted a stagnation of inflation in October, at 2.0% year-on-year. The average unemployment rate over the three months ending at the end of September across the Channel increased more markedly than expected, to 4.3%.
Eyes are already turning to inflation in the United States (CPI), scheduled for Wednesday afternoon. “In the event of a good surprise, the saying that politics only has a one-off impact on the stock markets could well be confirmed,” says Jochen Stanz of CMC Markets.
At 9:10 a.m., the Swiss Market Index (SMI) fell 0.60% to 11,831.39 points and the Swiss Leader Index (SLI) fell 0.62% to 1949.95 points. Almost all of the thirty star stocks fell, while two gained height. The broader market measured by the Swiss Performance Index (SPI) fell by 0.65% to 15,748.85 points.
Pharmaceutical subcontractor Lonza (+0.3%) continues to expand its bioconjugate production capacities in Visp with the addition of two new production lines. The investment for an undisclosed amount should generate the creation of 200 jobs by 2028.
The Rhine-Valais multinational was only ahead of Geberit (+0.4%). The bathroom equipment manufacturer has shed the sell recommendation made so far by Citigroup, in favor of a neutral assessment.
The traditional defensive heavyweights Novartis (-0.5%), Roche (-0.7%) and especially Nestlé (-0.9%) were significantly behind schedule. The bottom red went to the temporary employment giant Adecco (-2.5%).
On the broader market, the Zug-based real estate company PSP Swiss Property (-1.8%) increased its rental income over the first nine months of 2024, benefiting from significant revaluation effects on its real estate portfolio.
Banking software developer Temenos (-1.3%) extended the scope of its medium-term roadmap by one year during a day dedicated to investors, notably moderating its surplus target. long-term exploitation.
The Friborg company holding shares in luxury hotels and clinics Aevis Victoria (unchanged, only one exchange) reported an increase in turnover from January to the end of September. It refrains from any comments on current or future business progress.
jh/rr/vj
