SMI on the rise | UBS, Julius Baer, ​​Holcim, Swissquote and Barry Callebaut in demand | Logitech and Kuehne + Nagel lose

Yesterday, 6:05 p.m

The Swiss stock market closed weaker on Tuesday. After a friendly morning, things initially went downhill before prices were able to break away from their lows again as Wall Street rose. On the day of the US elections, investors did not want to expose themselves to unnecessary risks, the market said. As a result, they behaved cautiously and prices collapsed amid generally calm trading. Until it is clear who will move into the White House in January, there could be a stalemate on the markets, said one trader. Expecting a decision today might be too optimistic.

On Wednesday night, volatility is likely to increase with each state counted. “All asset classes, from currencies to gold, Bitcoin anyway, bonds and, last but not least, stocks, are likely to fluctuate with the red and blue spots on the map of the USA,” the trader described the coming hours. “No matter how the election turns out, America will continue to exist and the world will continue to turn,” said Thomas Oldenburger from CMC. The US data published on the reporting day had little influence on events. Accordingly, it became brighter The service sector surprisingly lifted the mood in October. It’s still on Thursday the US Federal Reserve with its interest rate decision on the agenda. A reduction in interest rates is definitely expected. Therefore, the words of Fed Chairman Jerome Powell are likely to be carefully monitored for clues about further monetary policy.

The FuW Swiss 50 Index finally moved up 0.10% to 2,449.99 points. The SMI closed 0.26% lower at 11,866.01 points. The SLI However, the trade ended with a slight increase of 0.05% to 1945.44 points. The SPI However, it fell by 0.24% to 15,812.13 points. In the SLI, 19 values ​​closed higher and eleven lower.

Adecco (-5.9%) were under pressure. The recruiter continues to wait for the upswing. The third quarter figures were below the expectations of the financial community. No business area was able to achieve positive results. The analysts particularly criticized the low organic growth.

Swatch followed slightly behind, but still clearly in the red (-2.5%), and the luxury goods manufacturer Richemont (-0.7%) also fell. One trader pointed to weak demand in the Asia-Pacific region and a possible new trade and tariff dispute between the US and the rest of the world after the election. Richemont will also publish its half-year financial statements on Friday.

The heavyweights Novartis (-1.7%), Roche (GS -1.5%) and Nestlé (-1.2%) were on offer, which contributed significantly to the index’s decline. Kuehne + Nagel (-1.3%), Givaudan (-1.2%) and Sandoz (-1.0%) were also sold. In contrast to Kuehne + Nagel, Sandoz and Givaudan have done very well this year.

The shares of cyclicals ABB (+2.5%), Holcim (+1.6%) and SIG (+1.0%) were in high demand. The financial stocks UBS (+1.9%), Swiss Re (+1.6%), Zurich (+0.9%) and Swiss Life (+0.3) also gained. While Zurich presents the figures this Thursday, the other two insurers will not follow until next week.

Another financial representative was in the winning field with the shares of Partners Group (+1.1%). Medtech stocks such as Sonova (+1.2%), Alcon (+0.7%) and Straumann (+0.3%) were also in demand.

On the back row, Oerlikon (-7.7%) stood out negatively. The industrial group performed better than expected in terms of operating profit in the third quarter. Sales and order intake, however, fell short of estimates.

Burckhardt Compression (+0.8%) were according to half-year figures wanted. At Cicor (+5.1%), investors took note of the news from Investor Day good and at Sensirion (-2.7%) performed poorly.

Continued to be under pressure SoftwareOne (-6.6%), which continued the downward trend since the profit warning and the change of boss at the end of October.