Zurich (awp) – The Swiss stock market gained further ground on Thursday, continuing the positive momentum of recent sessions. The SMI once again managed to finish comfortably above the symbolic bar of 12,000 points, registering and ending at its highest of the day during the remarks made by American President Donald Trump who spoke by videoconference at the WEF 2025 .
In New York, Wall Street moved in disorganized order in the morning, weighed down by the decline in technology stocks and by profit-taking. Investors also followed Donald Trump’s speech. He invited the bosses gathered in Davos to come “produce in America” or, otherwise “you will have to pay customs duties” to sell products in the United States.
“My message to all businesses around the world is simple: Come make your products in America and you will benefit from some of the lowest taxes in the world. But if you don’t produce them in the United States, which is your right, then , very simply, you will have to pay customs duties,” Mr. Trump said in an online speech.
In terms of indicators, the American market kept an eye on the weekly unemployment figures in the United States, which were up compared to the previous week, and slightly above market expectations.
“The main factor in the new increase in initial unemployment claims” was “the fires in California” which broke out on January 7, observed Samuel Tombs, chief economist at Pantheon Macroeconomics.
The SMI ended up 0.47% at 12,265.40 points, the highest of the day and after a low of 12,182.88. The SLI gained 0.44% to 2,033.28 points and the SPI 0.42% to 16,335.86 points. Of the 30 star stocks, 22 gained ground, seven lost ground and Swatch finished stable.
The Bienne watchmaking giant is likely to publish its annual results in the coming days. Analysts expect a turnover of 7 billion Swiss francs and a net profit of 412 million. Its Geneva competitor Richemont (+1.1%) has gained ground.
Logitech (+2.9%), Partners Group and the good Schindler (each +1.7%) and Sandoz (+1.3%) finished on the podium.
The action of the Valdo-California specialist in computer peripherals benefited from an increase in recommendation by Morgan Stanley to “equal weight” from “underweight”. The analyst in charge of coverage does not rule out an increase in targets.
The heavyweights Nestlé (+0.7%), Novartis (+0.6%) and Roche (+0.2%) progressed more or less clearly.
-In the losing camp, VAT Group (-2.3%) finished bottom, behind Sonova (-1.2%) and Adecco (-0.7%).
The human resources giant Adecco has announced the merger of its specialist tech subsidiary Akkodis with the American consulting specialist in the field of life sciences.
The flavor and perfume manufacturer Givaudan (-0.1%) reveals its annual results on Friday. Analysts forecast a turnover of 7.4 billion Swiss francs, for a net profit of 1.1 billion.
In the broader market, automotive industry supplier Autoneum (-1.1%) reported increased sales last year. The Zurich group was able to compensate for the decline in the automobile market in 2024 through acquisitions. The roadmap for the 2024 financial year is renewed for the automotive industry subcontractor.
The cocoa trader and specialist in cocoa products Barry Callebaut (-2.6%) suffered from no less than six price target downgrades by Kepler Cheuvreux, Barclays, Vontobel, JP Morgan, Citigroup and Baader Helvea. These comments come the day after the publication of declining volumes in the first quarter for the Zurich group, which is not very optimistic for the delayed 2024/25 financial year.
Drug wholesaler and pharmacy chain operator Galenica (+0.6%) exceeded expectations with its annual turnover. He stressed that the flu season, mild at the end of the year, slowed down its growth. Management confirmed the annual targets. Shareholders will be offered a stable dividend, at least.
The electrical and optical connectors specialist Huber+Suhner (+1.0%) benefited last year from rising demand and growth in turnover, with sales even exceeding analysts’ forecasts. The group confirmed its operating margin forecast of 9.0 to 10.5% for 2024.
The organizer of fairs and events MCH (-5.0%) fell sharply after restructuring announcements. The Zurich subsidiary Expomobilia, specializing in the design and construction of exhibition stands, will be reorganized. Job cuts are planned among the 80 employees in this unit.
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