Market players were also impatiently awaiting the afternoon publication of the American consumer price index for June.
Investors are of the opinion that these customs rights “will not materialize”, according to Ipek Ozkardeskaya, analyst of Swissquote. “This is how the markets interpreted the news, starting from the principle that negotiations would bring the prices to around 15%, at least for Europeans,” she said in her stock market commentary.
Thomas Gitzel at VP Bank abounds in this direction, arguing that the EU continues to bet on a negotiated solution. “Also in the financial markets, negative reactions have so far been limited, which testifies to the fact that the scholarships are also relying on an agreement. With the letter he sent, Donald Trump should especially want to increase the pressure again, ”he notes.
Ms Ozkardeskaya nevertheless stresses that “the risks accumulate: risk of disruption of the global supply chain, increase in American inflation due to customs duties, pressure on business profits, unbearable increase in the G7 debt level, political risks, geopolitical risks … Even if Trump is back for the moment, the measures already in place, associated with the increase in borrowing costs, will have concrete consequences more or less short. ”
Raiffeisen economists highlight the fact that American customs duties “have the potential to slow down global trade and business profits massively”, notably quoting a market participant.
On the front of the new macroeconomics, the observers turned their eyes towards the publication at 2:30 p.m. of the American consumer price index (IPC) for June. In terms of business results, the day promised to be very calm in Switzerland with the late afternoon presentation of key figures in the first half of the Zugois specialist on the private markets Group.
At 10:35 am on the Swiss Stock Exchange, the SMI star index took 0.22% at 11,966.84 points, after starting the session on a meager gain of 0.09%. SLI was 0.23% to 1979.76 points and the SPI from 0.35% to 16,686.85 points.
A large majority of the star values were now in a positive zone, the strongest increases being still displayed by ADECCO (+3%), of which Morgan Stanley noted the target of 20.50 francs against 19 francs previously, followed by VAT Group (+2.8%) and Julius Baer (+1.8%).
At the back of the peloton, we found Swisscom (-1.15%), preceding Swiss Life and Alcon (-0.4% each). Among the heavyweights on the side, Nestlé released 0.2%, while Novartis recorded an advance of 0.3%and Roche had passed in the green (+0.04%).
On the enlarged market, the manufacturer of Accelleron turbocharmers still took ground (+12.9%) after having increased its sales growth prospects for the whole year.
