Geneva (awp) – The Swiss stock market returned to positive territory after a complicated awakening on Friday. The lowering of the key rate of the Swiss National Bank (SNB) on Thursday, inflation in France and that in Spain having passed, investors are now eyeing inflation (PCE) in the country of Uncle Sam, scheduled for 2:30 p.m. .
The New York Stock Exchange finished higher on Thursday, notably driven by the fiscal recovery plan in China.
“This explosive cocktail of monetary and fiscal measures was what investors had been asking for for years,” said Swissquote analyst Ipek Ozkardeskaya. “Enthusiasm could fade if the economy does not react. Structural problems, local debt, population aging, deflation and loss of confidence are difficult to reverse.”
For John Plassard of Mirabaud, “nervousness should increase a notch before the publication of American inflation”.
Around 11:00 a.m. on the Swiss Stock Exchange, the flagship SMI index gained 0.08% to 12,218.89 points. The SLI increased by 0.09% to 1999.94 points. And, the SPI by 0.33% to 16,330.22 points.
The thirty star values were divided almost equally between green and red.
In the lead was SIG Group (+2.5%). Richemont (+2.2%) was still moving forward. Swatch (+2.1%) also progressed despite the delisting speculations revealed on Thursday and the denial by boss Nick Hayek published in an article in the NZZ on Friday.
ABB (-1.5%) replaced Lonza (-1.3%) as the red lantern. Not far from there, Holcim (-1.1%), Swiss Re (-0.6%) and Zurich Insurance (-0.8%) continued to decline.
On the broader market, Sensirion (+11.7%) continued to shine after the UBS rating changed from “Sell” to “Buy”. Meyer Burger (+9%) was among the winners. And Airesis (+6.3%) did not seem to suffer from the legal action taken by the French Rugby Federation against its Le Coq Sportif brand.
Dormakaba (+1.0%) still benefited from an analyst comment highlighting a potential increase of almost 30% for the stock compared to the current price.
SIX suspended trading in Peach Property shares mid-morning at the request of the Zurich real estate company. The latter is holding an extraordinary general meeting this Friday, the program of which includes a capital increase necessary for debt reduction.
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