2023-11-02 08:30:00
Estimated real time TTMZero 09:53:32 02/11/2023 Varia. 5d. Varia. Jan 1, 10,602.48 PTS +0.94% +2.02% -1.42%
November 2, 2023 at 09:30
Zurich (awp) – The Swiss stock market took on color on Thursday in the first exchanges, cheered up by the maintenance announced the previous evening by the Federal Reserve (Fed) of unchanged interest rates in the country of Uncle Sam. The day before, the main New York indices had clearly applauded this widely expected decision.
The attention of capital holders is now focused on the Bank of England (BoE), which must rule early this followingnoon on its own monetary policy.
If the Fed’s decision is anything but a surprise, it places its British counterpart in the uncomfortable situation of having to increase its tolerance towards inflation, failing to be able to raise the price of credit, notes Ipek Ozkardeskaya .
“This is not good for the credibility of a central bank (…) If investors have the impression that the BoE is letting go of inflation, for lack of choice, the pound sterling might take a serious hit blow,” continues the Swissquote analyst.
In Switzerland, the carousel of autumn results was running at full speed. Inflation stagnated in October (+1.7% year-on-year), remaining below the price stability objective defined by the Swiss National Bank (SNB). Consumer morale deteriorated further at the start of the fourth quarter, according to the periodic barometer compiled by the State Secretariat for the Economy (Seco).
At 9:15 a.m., the Swiss Market Index (SMI) rose by 0.52% to 10,669.86 points, the Swiss Leader Index (SLI) by 0.78% to 1,654.411 points and the Swiss Performance Index (SPI ) by 0.61% to 13,830.34 points. Of the thirty main market capitalizations, only five were in red.
The telecommunications operator Swisscom (-2.4%) immediately inherited the bottom position, despite increased profitability over nine months. The defense was accompanied under the bar in particular by the registered Novartis (-0.3%) and the two Roche stocks (bearer -0.2%, good -0.04%).
The bathroom equipment manufacturer Geberit (+5.4%) was on the other hand on the flagship index of the Zurich market, following having better than resisted difficult conditions since the start of the year.
Zurich Insurance (+0.6%) has put nearly half a billion Swiss francs on the table to gain a foothold in the Indian insurance market.
On the broader market, the temporary employment specialist Adecco (+3.7%) delivered a convincing performance for the third quarter, as did the duty-free store operator Dufry (+2.4%).
The Valiant banking group (-1.7%) hardly benefited from a sharp increase in operating income over nine months.
The industrial conglomerate Oerlikon (+1.7%) hardly seemed hampered by declining demand, growth and profitability between July and October.
Piping specialist Georg Fischer (+2.0%) has captured a majority of its Dubai counterpart Corys Piping Systems. Distribution facilitator DKSH (+4.7%) has acquired Bio-Strategy activities in Oceania.
jh/buc/ol
© AWP – 2023
Color: Varia.Varia. 5d.Variation 1 monthVariation 3 monthsVariation 6 monthsVaria. 1 yearVaria. 3 yearsVaria. 5 years Varia. 10 years Varia. Jan 1
Weighting: CapitalizationEqual-weightedWeights
Grouping: IndustrySuper SectorsSuper Sectors and SectorsIndustry and StocksSuper Sectors and StocksSectors and StocksShares
Detailed heatmap
1698915226
#Zurich #Stock #Exchange #positive #opening #Fed #BoE #November #a.m
