The week starts strong on the Swiss Stock Exchange

The week starts strong on the Swiss Stock Exchange
The week starts strong on the Swiss Stock Exchange

The Swiss stock market ended on a clearly positive note on Monday. After a short hesitation during the first half hour of transactions, the SMI quickly started to rise again and began to oscillate a little above the 12,100 point mark from the beginning of the afternoon, before accentuating its gains and finishing close to the day’s high.

In a generally optimistic atmosphere, investors awaited the macroeconomic data expected this week in the United States and the first round of legislative elections on Sunday in France with the confrontation between the National Rally and the New Popular Front.

In New York, Wall Street was once again moving in disorganized order in the morning, after a positive opening and at the start of a week that was not very lively in terms of indicators.

“The day lacks a poster likely to stir up the crowds,” warned Patrick O’Hare of Briefing.com in a note.

“The market is in a waiting position,” noted Karl Haeling of LBBW. “It’s a week with second-tier indicators, ahead of the PCE inflation index on Friday.”

Economists are counting on price stability in May, according to this index closely followed by the American central bank (Fed), with the annual rate slowing to 2.6%, compared to 2.7% in April.

In Switzerland, the experts consulted by the KOF remain moderately optimistic for the growth of the Swiss economy in the short and medium term. If most forecasts have only marginally changed between the March and June editions of the periodic survey by the Zurich Academic Center for Economic Studies, clouds are gathering over the employment outlook.

The SMI gained 1.20% to 12,157.29 points, higher at 12,180.57 and lower at 11,999.85 at the start of the session. The SLI advanced 1.03% to 1963.32 points and the SPI 1.05% to 16,137.30 points. Of the 30 star stocks, Sandoz (-2.0%), SGS (-1.1%) and Straumann (-0.1%) are the only losers.

Today’s podium is made up of Swatch (+2.6%), Novartis (+2.2%) and Lonza (+2.1%).

The Genevan competitor of the Bienne watchmaker, Richemont (+1.1%) finished in the bulk of the pack.

The other heavyweights Nestlé (+1.1%) and Roche (boosting +1.2%, good +1.0%) also advanced. Roche has taken a step towards approval in the European Union of the Duchenne muscular dystrophy treatment (MD) Elevidys from its Massachusetts partner Sarepta Therapeutics. The European Medicines Agency (EMA) agrees to look into the matter, notwithstanding the failure of a clinical study announced at the end of last October. The Rhine multinational also announced the launch of two new analysis devices for its Cobas test range, the c 703 and the ISE neo analytical, intended to improve the automation of procedures and increase the analysis capacity of terminals of the group.

The ophthalmic giant Alcon (+1.7%) has obtained a green light from the American Medicines Agency (FDA) for the implantation in humans of two updated versions of surgical devices. These two products, the Vitreoretinal Cataract System and the Cataract System, should become next year the first representatives of the new Unity range from the Geneva-Texan group.

In banking, Julius Bär (+1.3%) continues to be the subject of rumors. After speculation about a merger with EFG International, the question of the new CEO is the subject of heated discussions. President Romeo Lacher wanted to announce the new boss by the middle of the year. According to the Inside Paradeplatz portal, a meeting is planned for Friday. The favorites would be André Helfenstein and Francesco De Ferrari. There Handelszeitung compares the search for a boss at Julius Bär to that of a coach at Bayern Munich, with the desired candidates withdrawing one after the other.

On the broader market, the insurer Baloise (-0.8%) raised 55 million euros for an investment fund.

Flughafen Zürich (+1.4%) announced that construction work on its largest project abroad, in the Delhi metropolitan area, had fallen behind schedule. The commissioning of Noida International Airport is now scheduled for the end of April 2025, compared to the end of 2024 previously.

The manufacturer of weaving and welding equipment Schlatter (-6.1%) expects to record a sharp decline in operating profit in the first half of the year, due to charges and provisions caused by delivery delays.

The steelmaker Swiss Steel (-4.7%) has appointed Thomas Löhr as new financial director and member of the group’s general management. (AWP)

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