The Swiss stock market ended on a positive note on Friday. The SMI oscillated a little above the 11,300 point mark for a good part of the session. Unimpressed by American inflation, up to 2.7% in March, it gained height in the wake of Wall Street, finishing close to the day’s high.
In New York, Wall Street gained ground in the morning reassured by a key inflation indicator and boosted by the good results from Alphabet and Microsoft, which are starting to benefit from their investments in artificial intelligence (AI).
The SMI ended up 0.74% at 11,344.32 points, higher at 11,360.42 and lower at 11,294.67. The SLI gained 0.97% to 1855.89 points and the SPI 0.80% to 15,136.02 points. Of the 30 star stocks, 23 rose, 6 fell and Swiss Re finished stable.
Straumann (+3.4%) precedes Sika (+3.0%) and VAT and Lonza (each +2.7%) on the podium of the day.
The heavyweights Nestlé (+0.7%) and Roche (good +1.0%, buoyant +1.4%) gained ground, Novartis (-0.6%) lost some.
After the recent figures from the Vevey giant, Baader Helvea raised the price target and confirmed “add”, while Stifel reduced the price target and confirmed “hold”.
The Committee for Medicinal Products for Human Use (CHMP) recommends approval by the European Union (EU) of Roche’s Alecensa as a monotherapy, as the first adjuvant treatment after total tumor resection for adult patients with ALK (Anaplastic Lymphoma Kinase) non-small cell lung cancer.
In the wake of Roche’s figures, Vontobel reduced the price target and confirmed “hold”.
Also after the figures, Julius Bär and Jefferies raised Novartis’ target price and confirmed “hold” and “buy” respectively.
SGS (+1.3%) recorded a contraction in its revenues, mainly attributable to exchange rate effects in the 1st quarter. Under the leadership of its new boss and former treasurer Géraldine Picaud, the Geneva inspection and certification giant is also reviving the house tradition of complementary acquisitions intended to enhance its organic growth.
Sandoz (-2.3%) finished at the bottom of the small group of losers, behind SIG Group (-0.6% or -0.12 francs, excluding dividend of 0.48 francs).
Swisscom customers (-0.3%) with several bluewin email addresses will now have to pay. The costs amount to 2.90 francs per month, a measure that the operator explains by the need to cover its costs and renew its infrastructure.
On the broader market, AMS Osram (-0.1%) will fundamentally restructure its micro-Led activity, victim of the cancellation of a project from a major client. The cost of the operation will amount to 700 million euros, while 500 people will lose their jobs in Germany and Malaysia.
At the general meeting of the insurer Baloise (+2.8%), the shareholders put an end to the restrictions on voting rights, against the advice of the board of directors.
The cocoa processor Barry Callebaut (-1.2%) was fined 110,000 francs by the SIX Sanctions Commission, due to a negligent violation of the regulations on event advertising.
The Idorsia laboratory (+8.9%) has obtained from the European Committee for Medicinal Products for Human Use (CHMP) an approval recommendation for its new treatment for resistant hypertension Jeraygo (aprocitentan), recently approved in the United States.
Rolling stock manufacturer Stadler Rail (+0.6%) has won a contract from the Bulgarian Ministry of Transport for the delivery of seven Kiss double-decker trainsets plus an option for three additional trainsets. This is the Thurgau group’s first order in this country. (AWP)
