2023-07-03 16:10:31
03.07.2023, 18:10
The Swiss stock market took a breather on Monday at the start of the second half of the year. This following the leading index SMI was able to increase strongly at the end of last week. After initially gaining points, the SMI slipped into the red on Monday when the US stock exchange opened. The impulses from Wall Street were limited, following all, trading in the run-up to tomorrow’s holiday (“4th of July”) will be shortened and carried out with significantly lower volumes.
Most investors should be more than satisfied with the stock market performance in the first six months, the second half of the year might be bumpy, said a trader. Stressful issues such as further increases in interest rates or gloomy economic prospects keep investors on their toes. Sentiment data from the USA, Europe and Switzerland also showed this on Monday. The mood in the economy is subdued. How the companies have fared in the first half of the year can be seen from mid-July at the start of the accounting season. Until then, economic data such as Friday’s US jobs report will remain in focus.
The FuW Swiss 50 Index finally lost 0.65% to 2,180.83 points. The SMI lost 0.54% to 11,219.15 points, following having tended to be above 11,300 points for long stretches in the morning. The SLI fell 0.62% to 1757.99 and the SPI lost 0.51% to 14786.37 points. In the SLI, 20 titles lost value and 9 gained value. Holcim, however, went out of the market unchanged.
Some blue chip favorites from the first half of the year posted larger losses: These included the dental implant manufacturer Straumann (share: -3.7%), the vacuum valve specialist VAT (-2.5%) and the eye care group Alcon (-2.1 %). They had gained 37%, 46% and 17% respectively in the first half of the year.
ABB also posted significant gains in the first half, falling 1.6% on Monday. At the beginning of the week, the technology group announced the completion of the sale of its Power Conversion division, which has hardly moved the price.
In addition, stocks such as Sonova (-2.6%) and Partners Group (-3.0%) were clearly down, while the heavyweight Novartis (-1.6%) slipped more into the red the longer trading lasted. And the profit participation certificates from industry neighbor Roche (-0.02%) were also unable to defend the good initial profits. The pharmaceutical company had presented good data on the drug Evrysdi for the treatment of young children with spinal muscular atrophy (SMA) before the weekend.
Adecco (+2.3%) and Swatch (+2.5%) were in high demand. The latter benefited from good economic data from the very important sales region of Asia and from positive analyst comments. Some analysts see an attractive price level for acquisitions at Swatch following the recent poor performance. The situation is different for the competitor Richemont (-1.0%), which had shone on the stock exchange in the first half of the year.
The heavyweight Nestlé (+0.2%) went up slightly and the UBS stocks advanced more clearly with 1%. According to media reports, the big bank will probably not have to claim any loss guarantees granted by the federal government in connection with the emergency takeover of Credit Suisse for the time being. Insurers such as Swiss Life (+0.3%), Zurich (+0.4%) and Swiss Re (+0.5%) were also among the few winners.
In the back rows, Dormakaba advanced 4.5%. The locking technology group has launched a major savings program in order to achieve its medium-term goals. Around 800 jobs worldwide are likely to fall victim to the austerity efforts.
At SPS Swiss Prime Site (+1.7%), statements by company boss René Zahnd in a discussion on the further course of business were rated as supportive. In contrast, polypeptides (-7.2%) fell following cautious analyst comment. CS is currently judging that the turnaround is still a long time coming.
1688423762
#Stock #exchange #report #July #Swiss #stock #exchange #stumbles #year #Dormakaba #wanted
