2023-11-21 08:31:05
Zurich (awp) – The indices procrastinated in the first exchanges on the Swiss Stock Exchange, the day following a positive close on Wall Street and while awaiting the report of the last monetary policy conclave of the Federal Reserve (Fed) of Uncle Sam’s country.
“The main American indices ended up yesterday evening in very low volumes in the week of Thanksgiving. The trend was fueled by a very good auction of a 20-year government bond as well as progression in the sector of technology”, recalls John Plassard, of Mirabaud Banque, in a morning comment.
Investors’ eyes are now turning to the Federal Reserve (Fed) in Uncle Sam’s country, which must deliver in the evening (in Switzerland) the report of the deliberations during its last conclave.
“The Fed minutes will confirm that the decline in long-term yields is one of the main reasons why the institution decided to keep its rates high at its last meeting,” believes Ipek Ozkardeskaya, analyst at Swissquote.
In Switzerland, the trade balance suffered in October from an evaporation of pharmaceutical exports. On the other hand, watch sales outside borders remained on an upward trend.
At 9:10 a.m., the Swiss Market Index gained 0.03% to 10,742.87 points and the Swiss Leader Index (SLI) gained 0.19% to 1707.36 points. The Swiss Performance Index (SLI), on the other hand, lost 0.02% to 14,112.06 points. Of the thirty main valuations, 17 advanced, eleven declined, while Richemont and Novartis were still hesitant regarding the direction to take.
The other pharmaceutical heavyweight Roche (good -0.3%) as well as the other luxury stock Swatch (also -0.3%) were heading to the cellar.
The hearing specialist Sonova (+6.5%) was at the top of the index, despite a reduction in its annual objectives at the end of a first half-year which was as gloomy as expected.
Julius Bär (-1.8%, bottom red) was the subject of unkind comments, the day following a performance over ten months considered disappointing. UBS (-0.5%) also fell significantly.
In the broader market, chip manufacturer U-Blox (-5.6%) plans a heavy amortization for the abandonment of the development of cellular products, as well as a “transition” year in 2024.
The biotech Evolva (-71%) has found a buyer for its activities and announces its upcoming liquidation.
jh/rq
1700556257
#Zurich #Stock #Exchange #opening #scattered #order #November #a.m
