Zurich (awp) – The Swiss stock market was heading for a positive opening on Tuesday, after starting Monday to recover some of the losses of last week. The bar of 10,800 points once again seemed within reach of the flagship index of the Zurich market. Rolled in the wake of the series of defaults in the United States and the forced union of UBS and Credit Suisse, the banks in particular were licking their wounds.
“In the United States, First Citizens shares jumped more than 50% after the agreement to absorb Silicon Valley Bank, while First Republic Bank recovered nearly 12% yesterday”, notes Ipek Ozkardeskaya. , for Swissquote.
Still, this rebound has not yet brought bank valuations back to their level before last Friday, notes Michael Hewson for his part “This is where the shoe pinches (…) any bad news risks ‘bring the markets to a new precipice’, illustrates the analyst from CMC Markets UK.
At 8:10 a.m., the preSMI extrapolated by Julius Bär was coated by 0.39% at 10,828.60 points, in a shades of green.
UBS (+1.6%) and Credit Suisse (+0.9%) were in the front ranks, followed by Novartis (+0.8%). The pharmaceutical heavyweight benefited from a recommendation increase by Deutsche Bank, to “hold”.
Its competitor Roche, as well as Nestlé (+0.2% each) contested the defensive Swisscom (itou) the place of red lantern.
On the enlarged market, VAT (+2.2%) benefited from a buy recommendation issued by Berenberg. Only value down, Swiss Prime Site (-3.04% or 2.33 Swiss francs) will be treated excluding the dividend of 3.40% Swiss francs.
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