The Swiss Stock Exchange lined up another positive session on Thursday. The SMI is gradually approaching the symbolic bar of 12,000 points. It was a little more than thirty points away from it at its highest point of the day. Sika and VAT Group have opened the 2024 results for blue chips, with first data.
The day passed peacefully in the absence of Wall Street, closed due to a day of national mourning for the death of former President Jimmy Carter.
In terms of macroeconomic news, the very low inflation published by China illustrates sluggish consumption and weighed on the development of financial markets in Asia, both in China and Japan. In Germany, industrial orders rebounded in November.
The SMI ended up 0.43% at 11,927.11 points, with a high of 11,968.89 and a low of 11,868.98. The SLI gained 0.31% to 1967.21 points and the SPI 0.29% to 15,876.17 points. Of the 30 star stocks, 13 rose and 17 fell.
UBS reviews the barre des 30 francs
UBS (+2.9% to 30.37 francs) precedes Sandoz and Partners Group (each +2.4%) and Roche (+1.8%) on the podium of the day.
The three-key bank’s shares rose above the 30 franc mark for the first time since the 2008 financial crisis. The stock benefited from an increase in recommendation to “buy” from “hold” by Kepler Cheuvreux who also increased the price target to 33 by 28.50 francs.
The wealth manager saw his recommendation raised to “overweight” from “equal weight” by Barclays, which also raised the price target. Analysts see upside potential this year as the business environment gradually improves.
The US Food and Drug Administration (FDA) has approved Roche’s Ventana DP 600 slice scanner, an authorization that builds on that obtained in June 2024 for the Digital Pathology Dx system, which included a previous version of the Ventana DP 600.
Novartis (+0.8%) also supported the index, while Nestlé (-0.3%) remained stuck in the red.
Adecco in red lantern
Adecco (-6.2% to 20.78 francs) finished bottom, behind VAT Group (-5.9%) and Swatch Group (-3.0%).
UBS has reduced the temporary employment giant’s share price target to 19 from 25 francs and confirmed its “sell” recommendation.
-The St. Gallen vacuum pump equipment manufacturer benefited from vigorous demand last year, particularly in the fourth quarter. Growth was there, with the company having achieved an annual turnover of 942 million francs, an increase of 6.4% compared to 2023. According to some analysts, the recovery was not as meteoric growth than expected after the slowdown suffered in 2023.
The holder of the Bienne watchmaker suffered from a lowering of recommendation to “underperform” from “sector perform” by the Royal Bank of Canada (RBC) which also reduced the price target. Conversely, the Canadian raised Richemont’s price target (-1.0%) and confirmed “sector perform”. For its part, Research Partners raised the price target and confirmed “hold”.
The construction chemist Sika (-0.4%) saw its turnover increase last year, driven by the acquisition of MBCC in particular but penalized by lackluster activity in the construction sector and the high cost of the franc. The financial objectives have been confirmed.
In the broader market, the Cosmo Pharmaceuticals laboratory (+2.7%) almost tripled its revenues last year, thanks in particular to its extensive partnership with the American medical technology specialist Medtronic.
The real estate company Intershop (+0.8%) sees its outlook for last year with greater optimism than initially expected, thanks to the success achieved with its property sales. At the same time, acquisitions have been made which will support growth.
The Newron laboratory (-0.5%) has entrusted, in South Korea, the continued development, production and marketing of its experimental drug against treatment-resistant schizophrenia to Myung In Pharm, as part of a local licensing agreement.
The railway equipment manufacturer Stadler Rail (+1.3%) has obtained an order from the Chemins de fer du Jura (CJ). For an amount of 4.3 million francs, it will provide new security installations for the line linking Tavannes to Noirmont.
Zurich laboratory equipment manufacturer Tecan (+4.9%) saw its sales decline sharply in 2024, due to a reduction in spending in the biopharmaceutical sector and the weakness of the Chinese market. The operating margin for the past year was, however, confirmed. (AWP)
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