2024-07-17 11:03:30
Zurich (awp) – The Swiss stock market lost its enthusiasm for the most part on Wednesday as it arrived at noon, despite the support of a heavy Roche. The loss of steam was in line with other major European stock markets, which failed to keep up with the gains marked on Wall Street the previous day.
“Investors are torn in two directions after yesterday’s resilient US retail sales data increased the likelihood of a pivot to more accommodative monetary policy (according to the Fed editor’s note). At the same time”, there is the risk increased by the prospect of a new Trump presidency. with geopolitical and commercial tensions”, notes Pierre Veyret, analyst at Activtrades.
On the economic side, British inflation remained at 2% in June. Investors will also be interested in the same indicator for the euro area (2nd estimate) and in the United States industrial production in June is on the agenda. The Fed’s beige book is also due for publication this evening.
At 11:05 am, the TBS gained 0.08% to 12,270.1 points, while the SLI turned red, falling 0.3% to 1,978.1 points and the SPI gained 0.03% to 16,287 ,2 points. Of the thirty star stocks, only five advanced, and the other 25 fell back.
At the top of the star values, Roche (benefit voucher +4.7%, carrier +4.4%) claimed significant effectiveness of its CT-966 against obesity, during a preliminary evaluation of an early clinical program. The administration is by a daily oral route, when drugs that target and activate the intestinal hormones GLP-1 (for “glucagon-like peptide-1”) already on the market at the competition are generally administered through subcutaneous injections at a weekly rate.
Lonza (+0.6%), Swatch (+0.6%) and Swisscom (+0.1%) rounded out the rare winners.
Novartis (-0.8%) took the opposite direction on the eve of the publication of its second partial results. The third heavyweight Nestlé (-0.3%) also fell.
Logitech decreased (-2.2%), in conflict with the company’s co-founder Daniel Borel. The latter submitted a request to the court, which was accepted on Monday, aimed at prohibiting Logitech from calling its shareholders to the general meeting. Mr. Borel intends to present another candidate for the presidency of the board of directors. A hearing will take place on July 18.
Temporary red lantern VAT Group (-3.0%), the stock was under pressure like other technology stocks, on the eve of the presentation of its half-yearly figures.
Sonova (-1.5%) suffered from a profit warning issued by its competitor Demant.
On the wider market, turbocharger manufacturer Accelleron (+9.1%) has raised its ambitions for the current financial year, at the end of a successful first half in terms of revenue. The new roadmap includes a revenue growth target excluding currency effects of 9 to 12%, compared to 4 to 6% formulated at the end of May.
Rieter (+0.7%) wins order from Shanghai Digital Intelligence World Industrial Technology Group (DIW)
Feintool fell (-6.9%). The Bern-based manufacturer of metal presses and cutting machines faced headwinds in the first half of the year and a drop in revenue, prompting it to abandon its annual targets.
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