2023-12-19 17:16:10
Zurich (awp) – The Swiss Stock Exchange ended in scattered order on Tuesday. After registering a high of the day a little below 11,200 points during the first hour of transactions, the SMI began to hesitate on the direction to take and it oscillated around the equilibrium during the post- noon, before definitively opting for red.
In New York, Wall Street gained ground in the morning. Investors reacted well to the publication of better than expected figures by analysts on new housing construction in the United States.
In Switzerland, foreign trade has not escaped the global slowdown. Exports stabilized in seasonally adjusted terms, while imports increased in November month-on-month. Shipments to North America and Asia declined. The trade surplus of 2.01 billion Swiss francs is the lowest in the last 12 months.
The SMI ended down 0.08% at 11,146.43 points, with a low of 11,136.95 and a high of 11,189.06 points. The SLI nibbled 0.04% to 1783.11 points and the SPI lost 0.15% to 14,578.66 points. Of the 30 star stocks, 14 fell, 13 advanced, while Swiss Life, VAT Group and Zurich Insurance finished in balance.
UBS (+3.4% to 26.20 Swiss francs) finished on the highest step of the podium, ahead of Lonza (+2.4%) and Partners Group (+1.7%).
Swedish investment company Cevian Capital announced that it had invested 1.2 billion euros to acquire a 1.3% stake in UBS Group. Its co-founder Lars Förberg believes that the Zurich establishment “strengthened by the acquisition” of Credit Suisse is “the largest global wealth manager with unique market positions and financial strength”. According to him, UBS shares might be worth 50 Swiss francs, approximately double the current price.
Furthermore, the policeman of the financial markets, Finma, denounced the “repeated scandals” and “errors” of management by Credit Suisse which caused it to lose customer confidence and led to its collapse last March and its recovery. urgently by UBS. The regulator, who believes he has nothing to reproach himself for in the management of the crisis, is calling for better coercive tools and in particular the possibility of issuing fines.
The electrotechnical group ABB (+0.3%) has extended its partnership with the Swedish automobile manufacturer Volvo Cars, to which it is preparing to deliver new robotic modules intended to improve its energy efficiency for the production of the next generation of electric vehicles.
The construction chemist Sika (+1.2%) has commissioned a new production unit for concrete additives in Kirchberg, in the canton of Bern. The amount of investment in “expanding manufacturing capacities in its domestic market” was not disclosed.
SIG Group (-5.7%) finished bottom, behind Sandoz (-1.6%) and Nestlé (-1.5%).
Deutsche Bank lowered the Vevey giant’s share price target and confirmed “buy”. The least well-off consumers in the United States are tightening their belts, noted the analyst who also mentions the strength of the franc once morest the euro or the dollar.
Novartis (-0.8%) and Roche (good -0.5%, buoyant -0.6%) weighed on the index.
Richemont (-0.6%) and Swatch (-0.5%) also lost ground. The Genevan company suffered from the collapse of its plans for its withdrawal from Yoox Net-à-Porter. Just like its competitor in Bienne, it did not benefit from the new increase in watch exports in November, up 3.1% to 2.5 billion Swiss francs.
The telecoms operator Swisscom (-0.8%) has appointed Myriam Käser, currently at Skyguide, member of the group’s management in charge of communications as of June 1, 2024. She will succeed Stefan Nünlist who will leave his position at the end of May.
In the broader market, industrial baker Aryzta (+0.9%) plans to build a new bakery in Perth, Australia. Around 40 million euros are expected to be invested in this project.
Piping specialist Georg Fischer (+0.6%) will propose the candidacy of Annika Paasikivi, former president of Uponor, to its board of directors at the general meeting on April 17.
The derivatives specialist Leonteq (+0.2%) has bought a 10% stake in the Bernese Stock Exchange operator BX Swiss from the Börse Stuttgart group, for at least 10 million francs.
Montana Aerospace (+0.6%) wants to continue to expand in the energy sector. Asta Group, its Austrian subsidiary manufacturing copper components for generators and transformers, has started construction of its sixth production site.
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