Zurich (AWP) – The Swiss Stock Exchange remained stable in positive territory in the morning of Thursday, after having started the confidence session. The results of companies were a little more provided today with in particular the publication of the semi-annual performance of the Swiss Re reinsurer. Investors will also be interested in the unemployment rate in the euro zone as well as at production prices across the Atlantic.
The NASDAQ and the S&P 500 finished on new records on Wednesday evening, observers now tabling on several rate drops by the American Federal Reserve (Fed) this year. “The relatively modest increase in the prices of goods revealed by the report on inflation published on Tuesday appeared fears that customs duties do not revive strong inflationary pressures in the American economy,” explains John Plassard, partner of the Cité Gestion in charge of the investment strategy.
According to him, “investors are now looking for new supporting points or anchors to try to go higher. Production prices this afternoon, or retail sales tomorrow in the United States, could give the impetus. Or not!”, He said.
The prices for American production prices published today “could temper bets on an accommodating policy of the Fed, because the overall and underlying indices should increase due to the costs linked to customs duties. If that is the case, some of the most aggressive bets, in particular those who count on a decrease of 50 base points, could be reversed by the end of the week” Swissquot Ipek ozkardeskaya.
The economists of the Raiffeisen bank note that the good news on the market benefited Bitcoin, which reached a new higher Thursday morning in the first Asian exchanges, exceeding for the first time the threshold of 124,000 dollars.
On the front of the new macroeconomics, the gross domestic product (GDP) of the United Kingdom increased by 0.3% in the second quarter, according to the National Statistics Office (ONS). This figure is better than expected but declining compared to the first quarter.
Around 10:30 am on the Swiss Stock Exchange, the SMI was up 0.14% to 11,994.84 points. The SLI earned 0.14% at 1995.37 points, and the enlarged SPI indicator 0.2% at 16,710.37 points.
Among the 31 star values, twelve were now in the green zone, three in balance (Adecco, Swatch and Logitech) and sixteen had landed in negative territory.
Swiss Re took the head of the peloton (+2.1%) following the publication of its half -yearly results. The reinsurer managed to contain the costs linked to natural disasters and of human origin and displays in the activity damages and accidents a ratio combined in the nails of his projections for the whole year.
It was followed by Zurich Insurance (+1.8%), of which Goldman Sachs noted the course of course at 552 Swiss francs, against 542 Swiss francs previously, and of Swiss Life (+1.4%).
At the bottom of the classification, Straumann was (-1.4%). Research Partners lowered the target of the dental implant manufacturer at 115 Swiss francs, against 135 Swiss francs previously. Then came Partners Group (-1.3%) and Vat Group (-0.9%).
Among the heavyweights on the side, Nestlé fell 0.3%, rock by 0.1%and Novartis by 0.01%.
On the extended market, therapeutics relief confirmed its tumble (-14.9%). The Geneva pharmaceutical company, which aims for a reversed merger with the company Neurox, saw its income melted by more than 70% in the first half and its treasury of around 17%.
Swissquote dropped 2.6%. From January to June, the revenues of the online bank Glandoise increased by 13.0% to 358.2 million Swiss francs over one year. Customer assets reached 80.4 billion on June 30, 18.1% more.
Peach Property was in the lead (+10.5%). The real estate company active in Germany has won funding of 410 million euros from the American asset manager Castlelake, as well as a 30 million credit line for investment purposes.
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