2023-10-13 07:31:06
Zurich (awp) – The Swiss stock market fell slowly on Friday in the first trades. Persistent inflation in Uncle Sam’s country had already thwarted the upward impulses of Wall Street the day before.
“The latest point on inflation in the USA will probably not influence the Fed’s considerations for its meeting in November. The institution must maintain a wait-and-see position, but the first rate cut may be delayed,” summarizes Ipek Ozkardeskaya.
This morning, capital holders could be worried about the near deflation in the Middle Kingdom, a symptom of economic apathy. The slowdown in world factory exports in September, however, was a breath of fresh air.
Still on the agenda are industrial production in the euro zone for September and the sentiment of the University of Michigan for October, lists John Plassard of Mirabaud Banque in a morning commentary.
In Switzerland, production and import prices (PPI) fell in September, due in particular to a reduction in the bill for hydrocarbons.
At 9:07 a.m., the Swiss Market Index (SMI) fell 0.14% to 10,964.81 points, the Swiss Leader Index (SLI) 0.25% to 1712.48 points and the Swiss Performance Index (SPI) 0.13 % at 14,338.71 points. Of the thirty main valuations, twenty fell and ten rose.
The heavyweights were scattered, Nestlé gaining 0.4% and the good Roche 0.3%, while Novartis lost 0.6%.
Medical device producers were struggling. The ophthalmic giant Alcon dropped 2.0% and inherited the current bottom position. The surgical-dental industry equipment manufacturer Straumann also lost 2.0% and the hearing specialist Sonova 1.4%.
Lonza (-1.5%) also declined significantly, despite the announcement of a packaging contract likely to create 115 jobs at its Aargau site in Stein by 2027.
The good Schindler lost 0.5%. Citigroup has cut the price target.
The reinsurer Swiss Re (+1.1%) enjoyed a purchase recommendation recently issued by Berenberg, as did the electrical engineering conglomerate ABB (+0.5%) by Bank of America.
The construction materials behemoth Holcim (+0.2%), benefited from the abandonment of a purchase recommendation by Goldman Sachs, in favor of a neutral assessment.
In the broader market, Stadler Rail (+0.6%) won an order for hydrogen trains in California.
The sheet metal manufacturer Bystronic (-1.6%) is adopting non-detailed savings measures, after having suffered more than expected from anemic demand over the first nine months of the year.
The Santhera laboratory soared by 27%, after having taken a big step towards approval of its vamorolone in the indication against Duchenne muscular dystrophy on the old continent, now expected before the end of the year.
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