Zurich (AWP) – The Swiss Stock Exchange knew a new start to the green session on Friday, after doing better than resisting depressing news throughout the week. The American indices finished the session of Thursday in dispersed order, between favorable indications from technological values (NASDAQ +0.35%) and application of a new customs of customs rights to imports of a country Kyrielle, including Switzerland (Dow Jones -0.51%).
The trade war seems to no longer destabilize investors in the same proportions as in the spring, analysts note.
“The SMI even rebounded Thursday”, notwithstanding the empty -handed return of the Swiss Washington delegation, is surprised Ipek Ozkardeskaya. However, the Glandoise online banking analyst Swissquote considers that the gains of the day on European indices are likely to prove to be fragile, due to the weight of the trade war on the underlying economic fundamentals.
Investors have symptoms, both accustomed and weariness to Donald Trump’s words, when companies had adopted preventive product storage strategies in the United States before the implementation of import surcharge, attenuating their immediate impact, abounds John Plassard, associated with Cité Gestion. The investment expert also observes strategies for bypassing customs duties, including a stopover of goods in partner countries less harshly sanctioned by the Trump administration.
“Political volatility has never been a reliable advanced indicator to predict stock market trend reversals (…) Fasting investors know that electoral rhetoric is not real economic policy,” professes Mr. Plassard.
At 9:13 am, the Swiss Market Index (SMI) gained 0.24% at 11,877.24 points, the Swiss Leader Index (SLI) 0.06% at 1984.20 points and the Swiss Performance Index (SPI) 0.19% at 16’602.48 points.
Endless, Swisscom and Novartis (+1.4% each) led the ball. The laboratory was boosted by an increase in “Equal Weight” of the recommendation made by Morgan Stanley for its action and the telecommunications operator by a raising of its course objective by Research Partners.
The other heavy goods vehicle rock (-0.6%) took the opposite path, in the wake of the deterioration of the recommendation to “Equal Weight” for the enjoyment voucher by Morgan Stanley. The red lantern of the moment resulted in the giant of Sandoz substitution drugs (-3.6%), in the aftermath of a flight of 12% following its half-yearly results and in the wake of a “hold” degradation of the recommendation made by Jefferies.
The Nestlé food liner (+0.8%) played tugs.
The Irish laboratory on Switzerland Cosmo Pharmaceuticals appreciated 2.5%, after having extended a production and distribution partnership with its illustrious Japanese counterpart Takeda.
The TEMENOS (-0.4%) banking software publisher is ejected from the MSCI Global index, for the benefit of the servomotors specialist for belimo ventilation networks (-0.3%).
JH/FR