2023-10-27 06:46:03
Zurich (awp) – The Zurich Stock Exchange should open higher on Friday, in the wake of the Asian stock markets, and despite the poor performance of Wall Street on Thursday.
In the United States, the combination of disappointing results from tech mega-caps, weaker forecasts and high bond yields weighed on stocks. In the space of a week, the S&P 500 index lost 2.1% and the Nasdaq, with a strong technological component, fell by 2.9%, notes UBS in its morning commentary.
On the macroeconomic front, the day will be punctuated by American data, including household income and spending and PCE inflation in September as well as consumer confidence in October.
At 8:13 a.m., the preSMI calculated by Julius Bär advanced 0.29% to 10,397.65 points, not far from the 10,400 point mark.
The twenty stocks in the SMI index were all in the green.
It was the construction materials giant Holcim (+1.5%) which led the race, far ahead of all the others. The Zug group of Aargau origin completed its third partial with the best operational result in its history. Organic growth was also there and the construction materials giant revised its Ebit margin target upwards.
Logitech (+0.7%), Richemont and Bon Roche (+0.5% each) occupied the second and third steps of the podium. The latter obtained from the FDA an extension of approval for the treatment of retinal vein occlusion (RVO) for its new ophthalmic treatment Vabysmo (faricimab).
The defensive Swisscom (+0.1%) brought up the rear.
On the heavyweight side, Nestlé and Novartis advanced 0.2%.
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