The Swiss Stock Exchange confirmed its good predispositions in the first exchanges Tuesday, in the wake of a fence at the endorsement at Wall Street and after having amortized during the session Monday of its initial losses. The shock of US customs duties punitive on goods from Switzerland seemed to have already been digested.
Investors will look at the indices of purchasing directors on both sides of the Atlantic. “Lower than expected data could reinforce the expectations of relaxation from the Fed (…) while more robust data would result in the probability of a drop in rate in September,” imagines Ipek Ozkardeskaya, star analyst at Swissquote.
US customs duties are also maintained at the front of the stage after the shock of the rate of 39% which must be applied on Thursday to Swiss imports. Pressed by indigenous economic and political circles, the Federal Council is struggling to correct the shooting, or at least reducing its impact.
The theme also moves east. “President Trump has indeed threatened to increase ‘substantially’ customs duties on Indian exports to the United States, in retaliation for Russian oil purchases,” notes John Plassard, in charge of investment at Cité Gestion.
At 9:11 am, the Swiss Market Index (SMI) was getting 0.21% to 11,843.77 points, the Swiss Leader Index (SLI) from 0.23% to 1969.04 points and the Swiss Performance Index (SPI) from 0.35% to 16,544.16 points. Of the 31 main valuations, 21 progressed, four hesitated and the last six retreated.
The American concrete giant Amrize (-0.9%) played balais cars, which is due to present its mid-term results on Wednesday. The emanation of Holcim (+0.3%) followed a gruppetto composed of Swisscom (-0.4%), Sandoz, Alcon and Le Bon Lindt (all three -0.2%). The consumable and ophthalmic implantable specialist set his sights on the American Staar Surgical, concentrated on intraocular lenses.
The Veveysan Nestlé (unchanged) food liner was currently at the quay.
NOVARTIS (+0.6%) and ROCHE (+0.2%) pharmaceuticals continued to ignore desire formulated by Donald Trump for regulation of drug prices on the first worldwide outlet in the sector.
The Logitech mouse giant (+2.9%) was a rider alone at the top of the index, without any particular indication.
The provider of human resources externalized Adecco appreciated 0.7%, on dull but better than expected results.
On the enlarged market, the Zurich industrialist Oerlikon (-11%), on the other hand, disappointed at the end of the first half and swallowed part of his ambitions for the whole of the exercise.
The CI-Com Participation Company (-78%) was authorized to resume trading for three months, before a forced decline. (Awp)
