The Swiss stock market fell further on Tuesday. After jumping to an all-time high at the start of the session, the SMI star index regained momentum.
He finished up and down around 11,000 points.
In New York, Wall Street retreated in the still feverish morning the day following the worst session of the S&P500 since 2020.
“Nothing has improved since yesterday (Monday) regarding the Russian-Ukrainian situation. On the contrary, things have gotten worse, with Russia threatening to cut off gas to Germany if its oil exports are banned” , worried Patrick O’Hare of Briefing.com.
President Joe Biden announced on Tuesday that he had ordered an embargo on American imports of Russian oil and gas, in order to increase the sanctions imposed on Russia and “deal another powerful blow to Putin”.
The SMI ended down 1.32% at 11,057.06 points, with a low of 10,958.53 and a high of 11,370.88 at the start of the session. The SLI lost 1.33% to 1738.06 points and the SPI 0.83% to 14,046.47 points. Of the 30 star stocks, 17 fell and 13 advanced.
Under pressure the day before, the financials recovered well: UBS (+4.2%) precedes Swiss Re (+3.2%) and AMS Osram (+2.4%) on the podium of the day.
Swiss Life (+1.9%), Julius Bär and Credit Suisse (each +1.6%) and Zurich (+1.0%) also raised the bar more or less sharply.
The biggest losers of the day are Kühne+Nagel (-7.4%), Givaudan (-5.6%) and Straumann (-5.4%).
Treaty excluding dividend of 3.10 francs, Novartis (-3.2% or 2.48 francs) weighed on the index. Nestlé (-2.6%) did not escape the trend either, while Roche (+1.0%) ended in the green.
In the luxury camp, Bernstein lowered his price target for the registered Richemont (-4.4%) and for the bearer Swatch (-1.2%) due to the impact of the war in Ukraine. on the demand for luxury goods. However, the US broker is maintaining its buy recommendation for both stocks.
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