Stock exchange Zurich: opening up slightly, despite Wall Street
news-single-imgcaption” style=”width:240px;”>The SLI was more frankly green. (Keystone)
After a session start in decline in the wake of the closing down Friday on Wall Street, the Swiss Stock Exchange quickly returned to gains. Still, investors remain on the alert, worried about the arrival of a second wave of infections with the new coronavirus in the United States.
Fears all the more acute as some studies begin to affirm that the United States could soon be short of beds in hospitals in several states, explains in his comment John Plassard, of Mirabaud Securities.
At the same time, investors are starting to worry about the continuation of anti-racism demonstrations all over the United States which force several traders to close the stores, notes the expert. The overall trend was also weighed down by announcements from the Federal Reserve following the bank’s stress testing.
The 34 largest banks in the United States will indeed have to suspend their share buyback programs in the third quarter and limit the payment of dividends to shareholders, which has literally weighed on the sector.
This Monday, investors will focus on macroeconomic data on the eurozone confidence indexes for June as well as on inflation figures in Germany.
At around 09:10, the SMI index, which had fallen 0.24% at the very beginning of the session, rose almost imperceptibly by 0.04% to 10,046.22 points. The SLI moved more frankly in the green, climbing 0.32% to 1503.13 points, while the expanded SPI index did the same, rising 0.23% to 12,455.91 points.
Of the 30 star stocks making up the SLI index, only five were in the red, the other 25 progressing. UBS (-0.7%) stood out as the biggest loser, ahead of Alcon (-0.3%), Partners Group (-0.3%), Swisscom (-0.3%) and the heavyweight Nestlé (-0.04%).
The two other larger capitalizations of the Swiss Stock Exchange, the pharmaceuticals Roche (+ 0.2%) and Novartis (+ 0.1%) managed to take a few cents. The second has certainly announced the withdrawal from the European authorities of his application for approval of the drug Xiidra, intended to treat moderate to severe eye dryness in adults, but also announced the approval of the Japanese authorities for five drugs .
At the top of the table, the still volatile AMS jumped 6.3%, while the manufacturer of chips and sensors denied that some of its leaders are the subject of an investigation by the Austrian financial market surveillance authority (FMA).
The Austrian firm was ahead of the Zug chemist Sika (+ 1.1%), the St-Welsh manufacturer of sanitary equipment Geberit (+ 0.8%) and Logitech (also + 0.8%). Among the financiers Julius Bär showed the strongest growth (+ 0.7%), ahead of Swiss Re (+ 0.5%), Zurich Insurance (+ 0.4%), Swiss Life (+ 0.1%) and Credit Switzerland (+ 0.1%).
On the enlarged market, MCH took off by nearly 9%, the rumor that the Murdoch family enters the capital of the Basel exhibition organizer. The Zurich manufacturer of compressors Burckhardt jumped 6.7%, taking advantage of a sharp increase in price target from Baader Helvea.
Relief Therapeutics (+ 5.7%) completed the picture, ahead of Ascom (+ 3.8%) and Zur Rose (+ 3.8%). The title of the wholesaler in medicines and operation of online pharmacies benefited from a favorable comment from Berenberg who revised upwards the price target from 200 to 300 francs.
Medartis (-4.3%), Leclanché (-2.2%) and Schmolz + Bickenbach (-3.2%) experienced the biggest declines (AWP)