The Swiss Stock Exchange was in balance in the morning of Tuesday after having started the session in the green, investors are still cautious about a resolution by the deadline of July 9 of the trade war between the American president Donald Trump and the European Union (EU) and other countries. They also awaited the American manufacturing activity index for June as well as, in the euro zone, the first estimate of inflation figures for the same period.
“Solid data from the United States creates a friendly atmosphere on the stock markets and could today give the SMI wings,” said economists of the Raiffeisen bank.
According to the Bloomberg news agency, the European Union would indeed be open to a commercial agreement with the United States providing for a single customs right of 10% on many products. However, Brussels would in return require lower customs duties in certain key sectors.
In Swissquote, in the eyes of analyst Ipek Ozkardeskaya, this last aspect nevertheless brings its share of uncertainties: “Europeans could accept universal customs duties by 10%, but require exceptions for key sectors such as drugs, alcohol, flea, aircraft, cars, steel and aluminum, which they may not be obeyed”. she underlines.
If no agreement is reached by July 9, or if the American president Donald Trump grants an extension of the period, the higher customs duties on the imports announced on April 2 would come into force, notes Frank Klumpp, strategist to the LLBW bank.
On the front of the new macroeconomics, market observers notably turned their eyes to the first estimate of inflation in the euro zone in June, expected at the end of the morning, and “which could reserve surprises”, according to the Raiffeisen. They also awaited the manufacturing activity index for the same month in the United States, scheduled for the afternoon.
At 10:37 am on the Swiss Stock Exchange, the SMI star index fell very slightly, from 0.07% to 11,913.61 points, after opening up 0.24%. The SLI released 0.18% at 1954.7 points and the SPI 0.15% to 16,509.55 points.
A majority of features, 21 in number, was displayed in the red. The most important folds were recorded by VAT (-1.2%), SIKA (-1%), and Schindler (-0.9%).
The other ten put on green. At the top of the race, we still found Swiss Life (+1%), followed by Group (+0.8%) and Novartis (+0.7%). The Zugois investment manager has sold to its Luxembourg counterpart CVC Partners its latest shares in the Indian real estate specialist Aavas, for an undisclosed amount. The Zugoise firm claims to have released an important return for its customers, without however quantifying it either.
Among the other heavy goods vehicles on the market, Novartis was 0.7% and Nestlé had passed into negative territory (-0.2%). Deutsche Bank lowered the target of the mastodon of Veveysan food from 84 to 82 francs.
On the enlarged market, Leclanché still lost gains at -13.2% after his recovery of trading out of six. The Vaudois designer of energy storage solutions ended up publishing its 2024 annual report in the night of Monday to Tuesday, confirming a new heavy loss and after several extensions of deadlines. These procrastination had earned the action a suspension of trading on the Swiss Stock Exchange since early June.
The Irish laboratory listed on the Swiss Cosmo Stock Exchange was gaining ground, climbing 4.8% on its side. He announced to aim for recurring revenues of 480 million euros by 2030, representing annual growth of 39% carried in particular by the use of artificial intelligence (IA).
Ypsomed rose 0.6%. The Bernese Medtech specialist launches an obesity medication administered in China using one of his self-injectors. (Awp)
