Zurich Stock Exchange: optimism ahead of inflation in the United States

Zurich Stock Exchange: optimism ahead of inflation in the United States
Zurich Stock Exchange: optimism ahead of inflation in the United States

Zurich (awp) – The Swiss Stock Exchange was preparing to begin Wednesday’s session with a bang, in line with Wall Street’s closing the day before and awaiting an update on rising prices in the States -United.

“Yesterday was one of those days, during which investors persist in seeing the glass as full, even though it is only 10% full,” asserts Ipek Ozkardeskaya, analyst at Swissquote.

“Producer prices in the United States turned out to be higher than expected (…) President Joe Biden announced tear-jerking customs duties on Chinese imports (…) and the president of the Reserve Jerome Powell has once again called for patience, indicating that he does not expect the fight against inflation to be a long, quiet river”, lists the expert from the Glandian online bank.

It now remains to be seen whether inflation across the Atlantic in April – which will be published early this afternoon – will be in the same vein as producer prices. “The worst scenario? A figure in line with the consensus which would make investors even more nervous,” warns John Plassard, at Mirabaud Banque.

At 8:10 a.m., the preSMI extrapolated by Julius Bär appreciated by 0.37% to 11,827.51 points, in shades of green.

The Roche profit voucher (+1.0%) was positioned at the forefront, following the approval in Uncle Sam’s country of a human papillomavirus screening test and the day after an attack of weakness induced by probable upcoming competition for its Hemlibra against hemophilia.

The ophthalmic consumables and implantables giant Alcon (+0.8%) was still capitalizing on its gains from the day before, following its performance report for the first three months of the year.

The logistician Kühne + Nagel (+0.8%) completed the podium, without any particular indication.

The big competitor and neighbor Novartis occupied the other end of the ranking, along with the food liner Nestlé, the telecommunications operator Swisscom, the pharmaceutical subcontractor Lonza and the bathroom equipment manufacturer Geberit (+0 .2 each).

The mouse giant Logitech gained 0.3%, which will offer its shareholders a cash dividend increased by ten cents to 1.16 francs per share for its staggered 2023/24 financial year.

On the broader market, the software solutions provider Softwareone (+5.0%) benefited from the publication of encouraging quarterly figures, obscuring the bickering around its future as an independent and listed company.

The meter manufacturer Landis+Gyr (+2.2%) benefited from JPMorgan’s raising of the recommendation to “neutral”, compared to “underweight”.

jh/vj

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