The Swiss stock market restarted in the green on Wednesday morning, continuing a positive close the day before, the SMI having firmly anchored above the symbolic bar of 12,000 points. Apart from the publication by cocoa processor Barry Callebaut of its quarterly results, corporate news was not really on the agenda.
“Stock markets continue to celebrate Donald Trump’s inauguration on European stock markets and especially on American markets. As a businessman, Donald Trump is already fanning the embers of AI and wishes to continue this boom, which particularly delights investors, both in technology stocks and in the S&P 500 in the broad sense. analyst Frank Sohleder at ActivTrades.
According to him, Europeans are further relieved that the feared tariffs are not being implemented at the moment and that other regions and countries are playing a more important role for Donald Trump and his administration.
“Volatility on the markets will increase with the start of Trump 2.0, but we believe that the macroeconomic context will remain favorable to the financial markets,” predicts an expert from the Raiffeisen bank.
Upon his inauguration, Donald Trump announced that his country would tax Chinese products by 10% from February 1 and that European countries would also be subject to customs duties, “the only way” for the United States “to be treated correctly.
“This would suggest that the new administration will adopt a progressive rather than aggressive approach,” notes Mirabaud Banque expert John Plassard.
Around 9:05 a.m. on the Swiss Stock Exchange, the SMI increased by 0.66% to 12,190.84 points, after closing the day before up 0.61%. The SLI rose 0.47% to 2018.55 points and the SPI rose 0.51% to 16,253.69 points.
-Of the 30 star stocks, 17 opened in the green, 12 in negative territory and one last, Swisscom, had not yet been traded.
The good Roche found itself at the top of the list (+1.9%), after the pharmaceutical giant announced that it had received authorization from the American Medicines Authority (FDA) for the marketing of its tests intended for Diagnose sexually transmitted diseases (STDs).
It was followed by the other pharmaceutical heavyweight, Novartis and VAT Group (+1.4% each). Last of the three behemoths, Nestlé lost 0.1%.
At the bottom of the pack, we found Geberit, which fell by 1.0%, then the SIG group (-0.7%) and Swiss Re (-0.7%). The HSBC bank has lowered the recommendation for the reinsurer’s action to “hold”, compared to “buy” previously, but nevertheless maintains the price target at 140 francs.
On the broader market, Barry Callebaut lost 3.0%. The company confirmed its operating profit (Ebit) forecast for the full year. This, despite the fact that the trader saw its sales volumes decrease by 2.7% to 565 thousand tonnes in the first quarter of its staggered 2024/25 financial year, ending at the end of November. (AWP)
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