The Swiss Stock Exchange ignored the decline of its three defensive heavyweights on Tuesday morning and moved away from the 12,000 point mark defended the day before. European markets seemed to capitalize on the new records observed at the close on Monday in New York.
“Brokers in Europe will be scrutinizing the latest reading on inflation in the euro zone to be published this morning, which could reveal a rebound in inflation both in absolute value and in underlying terms (…) a nightmare for the ‘doves ‘ of the European Central Bank,” warns Ipek Ozkardeskaya, analyst at Swissquote.
The Glandian online banking expert attributes the current attraction for American stocks to the slower economic recovery observed on the Old Continent, to the war in Ukraine and to tensions with China, in addition to higher interest rates. profitable in Uncle Sam’s country.
Also on the agenda is the entrepreneurial climate in the euro zone in June, as well as retail sales and industrial production in the United States in May.
At 9:10 a.m., the Swiss Market Index (SMI) rose 0.28% to 12,036.66 points, the Swiss Leader Index (SLI) 0.41% to 1,948.66 points and the Swiss Performance Index (SPI) 0.29 % at 15,992.11 points. Of the thirty main valuations on the Zurich market, only six were missing from the feast.
The group, on the other hand, included the four titles of the three heavyweights. The dividend certificate and the Roche holder, as well as Novartis, lost 0.2%, while Nestlé lost 0.1%. Alcon (-0.2%) and SGS (-0.2%) were the other two unfortunate exceptions.
The vacuum valve manufacturer VAT Group (+1.4%) was competing with Swiss Life (+1.3%) and UBS (-1.2%) for the lead in the race, without any specific indications.
On the broader market, Komax (-7.3%) was taking a path of the cross. The manufacturer of cabling machines warned that its order intake would not be enough to maintain the level of its revenues in 2024 and predicted a barely positive operating result for the year. Faced with a hostile environment, the Lucerne industrialist will generalize partial unemployment on its Swiss sites, among other measures to reduce its costs.
The loom manufacturer Rieter (-2.0%) hardly benefited from an order for an unspecified amount in China. (AWP)
