The Swiss Stock Exchange began its session on Thursday on the right foot. The SMI was in the green zone, in the wake of the publication of inflation figures in Switzerland.
In the United States, Wall Street finished on Wednesday in the green, reassured by the announcement of an agreement between the United States and Vietnam, a week before the entry into force of important American surcharge. The NASDAQ index took 0.94% and the enlarged S&P 500 index won 0.47%, both reaching new heights. The Dow Jones ended up at a level close to balance (-0.02%).
In Switzerland, inflation rebounded in June. Consumer prices increased by 0.1% over one year and 0.2% compared to the previous month, according to the Federal Statistics Office (FSA).
“Housing, and in particular rents, is up 2.6% over a year. Except for rents, inflation in Switzerland would be negative at -0.5% over a year, translating a deflation situation on almost all other goods and services, “notes Arthur Jurus, director of investments at ODDO BHF Switzerland, in a comment.
As a consequence, the expert provides that the Swiss National Bank (BNS) will reduce its rates of 25 base points in September 2025 before scoring a break. “Financial markets currently anticipate a BNS rate at -0.2% (on average) by December 2025, without further declines beyond this level,” he wrote.
For Thomas Gitzel, chief economist at VP Bank, price evolution pleads against a negative key rate. “Inflation data do not justify new declines in interest rates. We therefore anticipate the maintenance of interest rates at the meeting of the BNS in September. The International Monetary Fund (IMF) has also advised the SNB to refrain from new decreases in interest rates, “he analyzes.
Around 9:30 am, the SMI star index was nibbled 0.1% to 12.004.34 points, after closing on Wednesday evening up 0.24%. The SLI took 0.15% at 1972.36 points and the SPI did the same (+0.15%) to 16,650.10 points. Of the 31 star values, eleven retracted and 20 advanced.
Adecco (+1.7%) took the lead in the provisional classification, ahead of Swatch Group (+1.2%) and SIG Group (+1.2%). The chocolate medal was allocated to Vat Group (+1.0%).
The heavyweights on the Nestlé coast (1.0%) and the good rock (0.2%) supported the index. The newcomer Amrize (+0.2%) also expanded his earnings.
On the losers side, we found Lonza (-0.07%) and Schindler (-0.3%).
Sonova (-0.3%), Logitech (-0.4%) and Richemont (-0.7%) fell in the background of the classification. The red lantern returned to Novartis (-0.8%). The Basel pharmaceutical giant announced the failure in phase III of its cosentyx medication intended for the treatment of adults with giant cell arteritis (ACG) newly diagnosed or recurrent.
On the enlarged market, Implenia opened the session up 0.4%. The construction giant has won several contracts in Switzerland and Germany with a total value of 200 million francs.
The Basel-Campagne cantonal bank (BLKB) was gaining ground (+0.2%). The BLKB warned that it has scored a new value of the value, of 105.5 million francs, on its participation in a radicant. The establishment announced in the wake the withdrawal of its director general for the end of March 2026 and the president of his bank council for the end of July 2026.
Ypsomed earned 0.5%. Meeting in general assembly on Wednesday, the shareholders validated all the points on the agenda. They notably approved the introduction into the statutes of an article in favor of a capital fluctuation margin ranging from 183.5 million to 212.5 million francs until July 1, 2030.
The Evolva action was not negotiated. The former Biochemist Rhénan will propose on July 25 to its shareholders to adopt the corporate name Evonext, during an extraordinary general meeting. (Awp)
