2023-11-23 07:46:05
Zurich (awp) – The Swiss Stock Exchange was preparing to begin trading in negative territory on Thursday, following finishing clearly in the green on Wednesday. No impulse is to be expected from the United States, because Wall Street will be closed. The news front was rather bare in Switzerland.
“The European indices, in the absence of the American markets closed due to Thanksgiving, should open without trend this morning despite the New York close and the new historic record of Microsoft which is approaching, just like Apple, the unimaginable bar of 3000 billion dollars in market capitalization!”, commented John Plassard, of Mirabaud Banque.
Some macroeconomic indicators will be revealed, such as the November PMI index for the euro zone and France. The European Central Bank (BE) will deliver the minutes of its October monetary policy meeting.
The World Health Organization (WHO) is concerned regarding an increase in respiratory diseases in China and has asked the population to “take protective measures”, almost four years following the start of the Covid pandemic. 19.
At 8:08 a.m., the preSMI index, calculated by Julius Bär, lost 0.06% to 10,825.55 points. The twenty constituent values of the flagship indicator were pointing in the red.
The life insurer Swiss Life fell the most (-1.3%), following Bank of America lowered its recommendation to “underperform”, from “neutral” previously. The price target was slashed to 586 Swiss francs from 625 Swiss francs.
Sika (-0.04%) announced that it is strengthening its polymer production at its American site in Sealy, in the state of Texas, to meet the growing demand for concrete admixtures in the United States and Canada. No amount has been disclosed.
The three heavyweights Nestlé, Novartis and Roche fell by 0.04% each.
Excluding SMI, electronic components producer Carlo Gavazzi (not covered) saw its revenues and order intake decline during the first six months of its staggered 2023/24 financial year (ending at the end of September).
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