Global Stock Market Updates: Swiss, New York, Tokyo – Latest News and Market Analysis

2023-12-29 07:46:11

Zurich (awp) – The Swiss Stock Exchange should begin the last session of 2023 on Friday on a positive note. Over the year as a whole, the SMI of star stocks, which closed the day before in a sharp decline, is moving towards an increase of around 3%.

The New York Stock Exchange ended in mixed order on Thursday, with the Dow Jones setting a new record, while the broader S&P 500 market index came close to a historic high.

In Tokyo, the Nikkei recorded an increase of 28.2% in 2023, its best annual performance in ten years, thanks to various factors including the fall in the yen and a return to favor with foreign investors.

For Schwab analysts, “hopes for a change in direction from the Federal Reserve (Fed) towards lower interest rates next year and signs of a slowdown in inflation in the United States have put the market in a holiday mood for two months now.

In the United States, weekly applications for unemployment benefits increased for the second week in a row, to 218,000, more than expected but without signaling a major impact.

“The main takeaway from the report is that it is not going to shake up the market perception that the labor market remains in good shape overall,” noted’s Patrick O’Hare. The publication of official US employment figures for the last month of the year is expected at the end of next week.

At 8:10 a.m., the Swiss Market Index (SMI) increased by 0.23% to 11,083.44 points in the pre-stock market concocted by the Julius Bär bank. All the components of the flagship index of the Zurich market were adorned in green on the starting grid.

With an advance of more than 0.3%, ABB and UBS slightly outperformed the market, as did Richemont (+0.3%), without any particular indication.

On the contrary, the heavyweights Nestlé, Novartis and Roche (+0.2% each) slowed down the progression of the SMI.

On the broader market, Evolva (no pre-market price) will request its delisting from SIX Swiss Exchange, after the finalization of its takeover by the Canadian Lallemand for an initial price of 20 million Swiss francs, likely to be adjusted to upward or downward.

AMS Osram (+0.5%) saw the Bank of Norway and UBS Fund Management increase their participation to 3.26 and 5.005% respectively.


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