Swiss Stock Exchange (AWP) – The Swiss Stock Exchange was heading for a session raising in a positive zone on Tuesday morning, despite having finished the day before, investors showing the expectation in the expectation of the July 9 deadline for negotiations in the trade conflict between the United States and other countries. During the day, they were waiting for the American manufacturing activity index for June as well as, in the euro zone, the first estimate of inflation figures for the same period.
Unlike European scholarships, Wall Street crossed new records on Monday. If most titles attribute this rebound to the optimism aroused by commercial negotiations and expectations that the Federal Reserve (Fed) could reduce its rates earlier than expected, according to analyst Ipek Ozkardeskaya it is mainly the fact “of optimism linked to AI, the rest remain uncertain”.
“The news, although encouraging, is not particularly promising. Negotiations with Japan are bumpy (…) As for the European Union, negotiations are just as uncertain. Europeans could accept universal customs duties of 10%, but demand exceptions for key sectors such as drugs, alcohol, fleas, planes, cars, steel and aluminum, Maybe would not get, “said Swissquote expert.
If no agreement is reached by July 9, or if the American president Donald Trump grants an extension of the period, the higher customs duties on the imports announced on April 2 would come into force, notes Frank Klumpp, strategist with the LLBW bank.
On the front of the new macroeconomics, market observers notably turned their eyes to the first estimate of inflation in the euro zone in June, expected at the end of the morning, as well as in the direction of the manufacturing activity index for the same month in the United States, scheduled in the afternoon.
At 8:13 am, the SMI star index was preparing to start the session up 0.14% at 11,938.69 points, after closing 0.49% withdrew on Monday. Almost all of the star values ​​were displayed in the green, apart from Holcim, down 1.27%. Baader Europe lowered its recommendation to “reduce”, against “Buy” previously. After the separation of the profitable activity of the Zugois giant of building materials in the United States, the remaining sectors of activity in Europe and Latin America are less profitable, according to the bank.
At the head of the peloton, we found the specialist in Luxury Richemont, up 0.24%, despite the fact that the Royal Bank of Canada (RBC) lowered its lens to 165 Swiss francs, against 170 Swiss francs previously. Then came UBS, getting wrapped by 0.22%. The heavy goods vehicles, Nestlé, Novartis and Roche each climbed 0.16%.
On the extended market, values ​​were all confident. The most important gains returned to Baloise and Helvetia insurers (+2.70% each). UBS noted Baloise’s recommendation to “Buy”, against “neutral” previously and enhanced its lens of courses to 215 Swiss francs, against 190 Swiss francs before. The bank also recommended “Buy” for Baloise, instead of “neutral” and put the target of 155 Swiss francs to 213 Swiss francs.
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