Zurich (awp) – The Swiss stock market remained on the defensive Tuesday as midday approached, falling in concert with its counterparts on the Old Continent. In a rather scattered economic agenda, investors focused on the rare company results and numerous analyst comments, while wondering about the future of the world.
“As a second Trump administration takes shape and implements its policies, investors should prepare for turbulence, both in the United States and elsewhere,” observes Michael Strobaek, chief investment officer at Lombard Odier.
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 Stanzl of CMC Markets.
As 11:00 a.m. approached, the Swiss Market Index (SMI) fell 0.68% to 11,822.23 points and the Swiss Leader Index (SLI) fell 0.68% to 1,948.77 points. The overwhelming majority of star stocks were contracting. The broader market measured by the Swiss Performance Index (SPI) fell by 0.65% to 15,748.85 points.
Pharmaceutical subcontractor Lonza (+0.2%) 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 Rhineland-Valais multinational was only ahead of Geberit (+1.1%). The bathroom equipment manufacturer has shed the sell recommendation made so far by Citigroup, in favor of a neutral assessment.
The industrial chocolatier Lindt & Sprüngli had returned to balance.
The traditional defensive heavyweights Novartis (-0.5%), Roche (-0.9%) and especially Nestlé (-0.8%) were significantly behind schedule. The bottom red went to the temporary employment giant Adecco (-3.1%).
Luxury stocks Swatch (down -2.4%) and Richemont (-1.3%) did not shine either.
On the broader market, the Zug-based real estate company PSP Swiss Property (-0.9%) 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 (+4.1%) 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.
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