DOW JONES–The Swiss stock market ended trading at the end of the week with a plus. After the Christmas break, however, sales were low. On the penultimate trading day of the year, it was primarily the risk managers who set the tone. Investors’ portfolios should make it through the end of the year without any damage. “The books of professional market participants are closed, while private investors are likely to be less involved in the stock market between the years,” said Robomarkets.
The SMI improved by 0.9 percent to 11,589 points. All 20 SMI values increased. 14.45 (Monday: 13.47) million shares were traded.
There were economic data from Asia, such as consumer prices from Japan and industrial profits from China. For China in particular, the data reinforced the picture of a slowdown in the domestic economy. Profits fell 7.3 percent in November from a year ago, but that marked a slowing pace. However, the stock markets did not interpret the data negatively because this increases the likelihood of more active economic stimulus from the Chinese government, it said.
Company news was few and far between. Relief Therapeutics shares rose 8.5 percent. The biopharmaceutical company said it expects to sign a definitive merger agreement with US company Renexxion in the first quarter of 2025. Relief Therapeutics further stated that significant progress has been made and that both companies are working to ensure the long-term success of the deal.
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DJG/rose
(END) Dow Jones Newswires
December 27, 2024 11:36 ET (16:36 GMT)
Swiss
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