The Swiss Stock Exchange opened on a rebound on Thursday, carried by positive American data. In our latitudes, the semi -annual results season is launched with the publication of the figures of Novartis, ABB and the surprise guest Swatch Group.
Heckled at the start of the session on Wednesday due to rumors on a possible dismissal of the owner of the Fed Jerome Powell, the American markets were finally reassured by the declarations of Donald Trump considering the possibility as “very improbable” and ended up.
“The consequences of such an infringement of the Fed independence could be spectacular. Not only would the US dollar and treasury bills collapse, but the Fed would lose a superpower: the one who helps him support the agitated financial markets by buying billions of dollars of American debt, “notes Ipek Ozkardeskaya, analyst at Swissquote.
“If the quantitative relaxation and the expansion of the Fed balance sheet worked so well for decades, it is because the Fed enjoys a level of credibility that few others have. If this credibility disappears, a drop in interest rates would seriously harm the dollar and treasury bills, “she continued.
In terms of macroeconomic news, investors will be interested in inflation in the euro zone in June, as well as retail sales in the United States. In Japan, car exports to the United States has dropped a quarter over a year again in June, weighed down by the impact of customs surcharges imposed by Washington.
Around 9:10 am, the SMI star index took 0.36% to 11,954.95 points, the SLI advanced 0.62% to 1981.54 points and the SPI gained 0.28% at 16,651.70 points. The vast majority of the star values were in the green, with the exception of Novartis, Richemont, Lonza, Sandoz and Swisscom.
Novartis (-2.3%) was the provisional red lantern, possibly under the effect of profits. The pharmaceutical giant saw its quarterly turnover grow 12% to $ 14.05 billion. Net profit excluding factors deemed non -recurrent has grown from almost 18% to 4.71 billion. In addition, the group is ready to pay up to 10 billion to buy its actions.
The other two large capitalizations Roche (+0.2%) and Nestlé (+0.1%) were barely hoisted in green.
On the other hand, ABB (+7.2%) jumped. The electrical engineering giant has exceeded market forecasts in the second quarter: order entries jumped 16% over a year to 9.79 billion dollars, while turnover has taken 8% to 8.9 billion. Net profit was 1.15 billion, up 5% in annual comparison.
The Swatch Group carrier (+2.9%) was gaining ground. The watchmaking group wiped a drop in sales by 10.4% in the first half, to 3.1 billion francs, due to the great difficulties on the Chinese market. (Awp)