Zurich Stock Exchange: towards a rebound at the opening

Zurich Stock Exchange: towards a rebound at the opening
Zurich Stock Exchange: towards a rebound at the opening

Zurich (awp) – The Swiss Stock Exchange was preparing to start Thursday’s session on the right foot, after having closed down below 12,000 points on Wednesday. Wall Street ended at half mast, after the publication of the Minutes of the American Federal Reserve. Investors should not expect rates to fall in the near term.

Fed policymakers said they “continue to expect inflation to return to 2% over the medium term, although recent data has not reinforced their confidence in progress toward the goal.” , underlines John Plassard of Mirabaud Banque in a comment. “As a result, officials have suggested that the disinflation process is likely to take longer than expected and some have suggested that they are prepared to tighten policy further if risks to inflation materialize in such a way that ‘such action becomes appropriate.’

On this side of the Atlantic, “European indices are expected to open higher this morning in the wake of Nvidia’s results above expectations, the announcement of a ‘split’ in the company’s shares and a clear increase in its dividend”, added the expert. “This should add nearly $150 billion” to the capitalization of the chip designer, driven by the rise of artificial intelligence.

Mr. Plassard advises keeping an eye on the publication of May PMIs in the euro zone, Great Britain and the United States during the day.

Around 8:05 a.m., the pre-SMI gained 0.11% to 11,971.45 points, according to pre-market calculations from the Julius Bär bank. Of the twenty stocks making up the flagship index, only Nestlé fell (-0.3%), while the other 19 rose.

JPMorgan lowered the recommendation of the Vevey food giant to “neutral”, against “overweight”, and reduced the price target to 105 Swiss francs, against 115 Swiss francs. The expert in charge of the title sees margins under pressure due to cost inflation and reinvestments.

The other heavyweights, Novartis and the good Roche, each nibbled 0.2%.

ABB (+0.2%) has appointed two managers to head the electrification and drive systems divisions.

Swisscom (+0.1%) issued bonds worth 4 billion euros to complete its financing for the acquisition of Vodafone Italia, for 8 billion euros.

Excluding SMI, Galenica (+1.7%) confirmed its objectives for the current year, following the results of the first four months marked by an increase in revenue of almost 5%.

Julius Bär (-1.6%) managed to attract new money in the first partial, despite a declining month of January. The wealth manager, shaken by the bankruptcy scandal of the Austrian real estate group Signa, said nothing about a possible external successor to managing director Philipp Rickenbacher.

ck/jh

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