Zurich (awp) – The Swiss Stock Exchange began Monday’s session gropingly, a few hours before the inauguration of Donald Trump as the 47th president of the United States. His sensational announcements, in particular to increase customs taxes, will put investors on alert in the near future.
At noon sharp, Washington time (6 p.m. in Switzerland), the 47th president of the world’s leading economic power will begin his second term, succeeding Democrat Joe Biden. As of Monday, the Republican announced a flood of decrees, in particular to stem what he describes as an “invasion” of undocumented migrants.
The billionaire’s inauguration marks “a major turning point after an unexpected election victory. His inauguration will emphasize unity, but analysts remain skeptical about his ability to move beyond his polarizing positions and translate that ambition into action concrete,” warned Jon Plassard.
According to the Mirabaud Banque expert, “the first days of his presidency promise to be busy, with bold promises on immigration, taxes, energy and foreign policy, but many initiatives could be hampered by constraints “legal, congressional and legal challenges”.
Mr. Trump’s announcements “are a double-edged sword”, insisted Ipek Ozkardeskaya. According to the Swissquote analyst, “its policy encouraging growth and deregulation should benefit the American economy, but its policy on customs taxes will certainly increase inflation and restrain the Fed” in its desire to lower more its key rates.
Around 9:10 a.m. on the Swiss Stock Exchange, the flagship SMI index rose barely 0.08% to 11,995.93 points, after closing on Friday up 0.40%. The SLI gained 0.12% to 1988.39 points and the SPI gained 0.09% to 15,997.35 points.
The majority of star stocks were in the green, with Swatch (+1.2%), UBS (+1%) and Sandoz (+0.6%) at the top of the ranking. The Bienne watchmaker could soon publish its annual results, with analysts surveyed by AWP counting on revenues falling to just under 7 billion Swiss francs.
Schindler (+0.3%) has found a new part-time chairman for its board of directors.
-SGS (+0.1%) announced the acquisition of the American RTI Laboratories, specialized in environmental studies and materials testing. No financial details have been revealed.
The broader market was a little livelier, with Belimo (+2.4%) in demand. The specialist in actuators and ventilation flaps recorded a solid increase in turnover last year, particularly in the Americas region, exceeding market forecasts. The Hinwil-based company saw its revenue increase by 9.9%, or 13.1% excluding currency effects, to 943.9 million Swiss francs.
Inficon (+2.9%) was also on the rise, having recorded a turnover of around 671 million dollars last year, with an operating surplus of around 136 million.
Ypsomed (+3.4%) also had the wind in its sails, driven by a buy recommendation from UBS, which on the other hand lowered the price target.
Meyer Burger (+32.8%) took off. The group, in great difficulty, obtained additional financial resources and launched a buyout process.
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