Swiss Stock Market Trends and Global Economic News: Updates on SMI, ABB, and More

2023-11-30 07:46:06

Zurich (awp) – The Swiss stock market was heading towards a slightly favorable opening on Thursday, continuing the good trend at the previous day’s close. In the Middle East, the truce between Israel and Hamas was extended at the last minute on Thursday for a seventh day, to allow mediators to continue negotiating new releases of hostages.

American indices ended without trend on Wednesday evening, despite a slight increase in the outlook for American growth which could encourage the US central bank to tighten the screw. Investors seem to be gradually internalizing that the American Federal Reserve (Fed) will adopt a soft landing scenario for the economy, notes John Plassard of Mirabaud Banque. The Beige Book published by the Fed also indicates that economic activity is starting to slow down.

Macroeconomic data from Asia is mixed. Manufacturing activity in China contracted in November for the second consecutive month. In Japan, industrial production increased more than expected in October, supported in particular by better supplies.

Markets will focus this Thursday on October retail sales in Germany, November inflation in the Eurozone and, later, on US inflation.

At 8:10 a.m., the Swiss Market Index (SMI) rose 0.17% to 10,821.23 points, according to pre-market information from the Julius Bär bank. With the exception of Idorsia (-0.1%), Straumann (-0.2%) and Julius Bär (-0.4%), all the star stocks are adorned in green.

ABB increased by 1.4%. The Zurich automation and electrical engineering giant adjusted its objectives during its investor day in Frosinone, Italy. The group notably expects an Ebita operating margin of between 16 and 19% and long-term sales growth on a comparable basis of between 5 and 7%. External growth should be between 1 and 2%.

VAT (+2.1%) put an end to partial unemployment measures at two Haag production sites, thanks to the recovery in demand at its two sites in Haag, in the canton of St. Gallen. The reduction in working hours was introduced last June.

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Sonova (+0.8%) benefited from a buy recommendation from JP Morgan. The three heavyweights Nestlé, Novartis and Roche gained 0.1%.

In the broader market, the media group TX Group (not listed) has set profitability targets for its three business units by 2026. For free media (20 Minuten), the operating margin (Ebit ) adjusted is expected between 14 and 16%, compared to 8 and 10% for paid media (Tamedia) and 18 to 22% for Goldbach (outdoor ).

The publisher and printer Orell Füssli (no course) saw its activities expand in the second half of the year, pushing it to raise its forecasts for the whole year.

The Geneva laboratory Obseva (not listed) has filed a request for a financial moratorium with the Geneva authorities, in order to concentrate on its operational activities.

The Ticino specialist in orthopedic devices Medacta (no course) has significantly increased its production capacities. The expansion of an installation in Rancate and the one already active in Castel San Pietro will make it possible to double capacities.

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