2023-12-12 07:46:04
Estimated real time TTMZero 09:14:48 12/12/2023 Varia. 5d. Varia. Jan 1, 11,139.74 PTS +0.08% +1.62% +3.74%
December 12, 2023 at 08:46
Zurich (awp) – The trend on the Swiss stock market looked optimistic but not very decisive on Tuesday, on the eve of a monetary policy decision in the United States. Until then, investors will be able to get an idea of inflation in Uncle Sam’s country with the publication scheduled for early afternoon (in Switzerland) of the consumer price index in November. The New York market ended the previous day’s session on a positive note.
“Underlying inflation is expected to be around 4%, which seems undeniably better than the 6.6% reached in 2022. (…) The phenomenon, however, remains twice above the 2% ceiling targeted by the Federal Reserve (Fed), whose boss (Jerome) Powell will probably emphasize tomorrow the progress accomplished as much as the work that remains to be accomplished,” notes Ipek Ozkardeskaya, for the online bank Swissquote.
“Core inflation above 4.2% would likely force brokers to sell en bloc and ask questions later,” IG bank anticipates. Conversely, an increase in prices of less than 3.9% would open the way for a continuation of the end-of-year rally.
After the Fed on Wednesday, the Swiss National Bank (SNB), the European Central Bank (ECB) and the Bank of England (BoE) will deliver their monetary policy decisions on Thursday.
At the time set for its assessment, the climate conference was still stumbling over the reluctance of oil-exporting countries to include an exit from fossil fuels in the text of the agreement.
At 8:15 a.m., the pre-SMI extrapolated by Julius Bär rose by 0.09% to 11,140.86 points, on an almost immaculate green front.
The pharmaceutical subcontractor Lonza (-0.3%) was the only unfortunate exception, visibly upset by the resumption of coverage of its title following a sell recommendation from Kepler Cheuvreux.
The heavyweights Nestlé, Novartis and the good Roche all nibbled 0.1%.
The logistics company Kühne+Nagel (+0.8%) moved to the top of the grid, fueled by the increase to “neutral” in the appreciation of its stock by Bank of America.
jh/al
© AWP – 2023
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