The Swiss Stock Exchange finished on a scattered note in dispersed order on Monday. The season of the results is gently drawn and attention is still focusing on the issue of American customs duties, set at 39% for Switzerland. Investors are also waiting, Tuesday, data on American inflation in July.
Discussions around customs duties “between the United States and the rest of the world remain the subject of the day,” commented Michael Bolliger, chief of Swiss investment in the UBS global wealth management. “Yet the markets react quite calmly, in part because they anticipate new progress in negotiations and have a better understanding of the consequences for businesses.”
We plan to slow down the economy but no recession, even in Switzerland
Michael Bolliger, chief of Swiss investment at UBS
The expert expects to see the effects of surcharges and persistent uncertainty in a more marked way “in the second half”. “We are planning a slowdown in the economy but no recession, even in Switzerland,” he said.
In New York, Wall Street evolved in dispersed order in the morning, pending new inflation figures in the United States, investors also monitoring geopolitically developments.
The market will evolve “in narrow forks until we get news on American inflation”, commented Art Hogan, by B. Riley Wealth Management.
The consumer price index (ICC) in the United States, which measures inflation on the consumer side, is expected on Tuesday. It will be followed by inflation on the producer side (PPI) on Thursday.
“These two indicators will have an influence on monetary policy” of the American central bank (Fed), according to analysts from briefing.com.
The SMI ended in balance (+0.03%) at 11,869.99 points, lower at 11,849.13 and higher at 11,960.44. The SLI sold 0.13% to 1979.42 points and the SPI finished stable (+0.01%) to 16,567.52 points. Of the 31 star values, eight have gained ground and 23 lost it.
Novartis (+2.1%) was running, preceding Julius Bär (+1.1%) and Swisscom (+1.0%).
The Basel pharmaceutical laboratory has claimed, without detailing it, the success of two advanced clinical studies, baptized Neptunus I and II, evaluating ianalumab against Sjögren’s disease. Investors have ignored rumors of relocation from Swiss pharmaceutical production to the United States, in the midst of a trade war between Bern and Washington.
The other giant Pharma Roche (-0.04%) ended up close to balance, just like the third heavy goods vehicle, Nestlé (+0.03%).
The Nestlé Waters subsidiary challenges the revelations of the French site Mediapart, according to which natural mineral waters againstx and hepar produced in the Vosges are contaminated with microplastics by the wild discharges of Nestlé.
Sig Group (-2.4%) finished red lantern, behind Swatch Group (-2.1%) and Sika (-1.5%). The other value of luxury, Richemont (-1.4%) also clearly flexed.
On the expanded market, the Aryzta industrial baker (-0.4%) saw its profitability undergo a drop in regime over the first six months of the year, notwithstanding income increase. The Zurich group has the fault of the volatility of the prices of certain ingredients, including the butter, the eggs or the cocoa, which affected the negotiation calendar with certain suppliers.
The Basel-Campagne cantonal bank (BLKB, +1.4%) expressed the departure of the director general of its subsidiary, the online bank in radicant Holding difficulty, at the latest at the end of February 2026.
The IDORSIA laboratory (+1.0%) unveiled the intermediate result of its redemption of convertible bonds 2025-2028. The closure of the operation should take place on August 26, subject to satisfaction or renunciation of the conditions of the offer.
Real estate company Mobimo (+0.3%) announced a loan of 175 million francs to 1.100% and due 2032. (AWP)