Zurich Stock Exchange: lacking catalysts

Zurich Stock Exchange: lacking catalysts
Zurich Stock Exchange: lacking catalysts

Zurich (awp) – The Swiss stock market risks having difficulty capitalizing on its gains from the day before on Tuesday. Shaken by the serious consolidation of its first capitalization Nvidia, the New York market ended Monday’s session in disorganized order. The Nasdaq with its strong technological coloring in particular dropped more than a percentage point.

“European indices should open slightly lower this morning in the wake of the beginnings of concern regarding stocks linked to artificial intelligence after Nvidia entered the correction zone having lost a whopping $380 billion in market capitalization in just 3 sessions!”, notes John Plassard, of Mirabaud Banque.

The European economic agenda is practically empty and we will have to wait until midday to see American indications.

At 8:10 a.m., the pre-SMI compiled by Julius Bär fell by 0.14% to 12,140.34 points.

The pharmaceutical and diagnostics giant Roche (good -0.1%) hardly benefited from the approval as planned of a subcutaneous version of its treatment against multiple sclerosis Ocrevus on the Old Continent.

Only ABB, stable, escaped the ambient slump, without any particular indication.

Losses remained contained, Richemont and UBS sharing the bottom with -0.2% each.

The broader market offered a similar picture, between Julius Bär and Idorsia unchanged, and Swatch, Avolta and Sandoz down 0.2%.

The solar module manufacturer Meyer Burger (not covered) ensures progress in transferring its center of gravity to the United States. The CPH group (not followed) has finalized the outsourcing of its activities on paper. The boss of the Israeli specialist in remote medical monitoring SHL Telemedicine (not listed) must play the extensions, until the end of August and the hoped-for hiring of his successor.

jh/rr

#Swiss

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