2023-09-28 06:46:03
Zurich (awp) – The Swiss stock market is expected to open in a hesitant context on Thursday, with investors still trying to determine what the real impacts on the economy will be of a continued rise in yields on Treasury bills, the dollar and the price barrel of oil.
On Wednesday evening, the main American indices ended in disarray following a technical rebound, in a context of rising yields on Treasury bonds, the 10-year having exceeded 4.6% for the first time since 2007, retains in his commentary morning John Plassard, from Mirabaud Banque. The dollar, for its part, continues its progression once morest the euro.
“The volatility of the US bond markets is increasing, although we are far from alarming levels, while the US dollar continues to attract as a safe haven,” notes Ipek Ozkardeskaya of Swissquote. “Nothing can resist the domination of the American dollar,” she notes.
The day will be punctuated by inflation in September in Germany and Spain as well as the second reading of American growth for the second quarter, which should be revised downwards.
At 8:16 a.m., Julius Bär’s PreSMI rose 0.08% to 10,891.13 points. Of the twenty stocks in the flagship index, only one, Logitech, was in the red, at -0.9%, the day following a comment from Exine BNP which had weight. The other securities showed minimal variations, between +0.13% and +0.06%.
On the broader market, Basilea jumped 2.6%. The laboratory has achieved clinical success for its drug ceftobiprole in the treatment of Staphylococcus aureus septicemia.
Komax gained 1.6%. The cabling machine manufacturer expects vigorous growth over the next five years following the acquisition of Schleuniger. The Lucerne group expects to generate between 1.0 and 1.2 billion Swiss francs in turnover by 2028, representing average annual growth of between 6 and 9%.
Finally AMS Osram (-15.9%) wants to secure financing of 2.25 billion euros in order to cover its needs until 2025 or 2026. The Austrian group plans to launch subscription rights, loans and other operations to raise these funds.
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