The Swiss stock market started in the green on Monday a week shortened by the Thanksgiving holiday in the United States. In the virtual absence of corporate news likely to move prices, investors will have some economic data to dissect.
The New York Stock Exchange ended last week on the rise, with investors abandoning part of the technology sector in search of attractive valuations. “The main American indices ended up on Friday evening in the wake of the euphoria which still surrounds the arrival of Donald Trump” to the American presidency, commented John Plassard of Mirabaud Banque.
“Investors are also delighted with the (probable) arrival of Scott Bessent as Secretary of the Treasury in the United States. The latter should in particular bring (economic) stability to the government,” he added.
The stock market week will be shortened by one session in the United States due to the Thanksgiving holiday on Thursday, recalled Swissquote analyst Ipek Ozkardeskaya, stressing that “most announcements and data will be concentrated on the first three days” of the week.
Among the macroeconomic data to follow this week are Tuesday the report from the American Federal Reserve (Fed), Wednesday inflation (PCE) in October across the Atlantic, Thursday inflation in Germany in November and Friday that in the eurozone.
The stars in green
Around 9:07 a.m., the flagship SMI index rose 0.19% to 11,738.80 points, while the SLI accelerated 0.49% to 1941.20 points. The general SPI index rose 0.22% to 15,625.61 points.
The vast majority of star stocks were draped in green, led by luxury stocks Richemont (+2.6%) and Swatch Group (+2.0%), as well as VAT Group (+2.5%).
Pharmaceutical heavyweights Novartis (-1.2%) and Roche (-0.04%) reversed the positive pre-market trend and weighed on the index. The first will present more than 65 abstracts at the annual meeting of the American Society of Hematology (ASH), while the second has obtained new approval in the United States of the Pathway HER2 (4B5) test, for the identification of susceptible patients. to benefit from the new Ziihera treatment against bile duct cancer.
The third large capitalization Nestlé (+0.7%) was on the other hand sought after.
On the broader market, Bachem (+3.2%) is supported by a buy recommendation from Octavian analysts.
The registered Lindt&Sprüngli (+1.4%) was also sought after, after an increase in the price target by UBS. (AWP)
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