Zurich (awp) – The Swiss stock exchange closed its first weekly session with an honorable rise. Despite a hesitant opening, the SME of the stellar values of the Zurich place gave the shoulder just at the end of the morning, to gain further momentum in the wake of a positive start of the session on Wall Street and then to slow down.
The sinusoidal price trajectory betrays high volatility, pending a meeting of the Federal Reserve’s (Fed) main monetary policy committee in Uncle Sam’s country on Tuesday and Wednesday, after which the guarantor of world monetary stability l ‘ leading economics must take stock of the trend of its interest rates.
“There will be a lot to see this week, from the Fed on Wednesday and the employment report on Friday, to the Bank of England also on Wednesday, corporate earnings season and more,” sums up Craig Erlam, analyst for online broker Oanda.
At the macroeconomic level, manufacturing activity in China contracted again in October after a brief rebound last month, due to the anti-Covid restrictions that penalized production.
In the euro area, GDP grew by 0.2% in the third quarter, compared to the previous partial. Inflation accelerated again in October, reaching a new record (+ 10.7%), after reaching 9.9% in September (revised figure).
The Swiss Market Index (SMI) fell by 0.52% to 10,827.93 points, less than 25 points from the day’s high, the Swiss Leader Index (SLI) by 0.38% to 1631.68 points and the Swiss Performance Index (SPI) of 0.50% at 13,803.08 points. Of the top 30 evaluations, 20 gained ground and 10 lost ground.
Credit Suisse (+ 5.2%) took the stage victory in the chair. The double-sided bank presented the first details of its 4 billion Swiss francs capital increase. UBS (-0.4%), on the other hand, could not resist the distance.
Other numerous winners include Swisscom (+ 1.8%), Swiss Life (+ 1.4%) and the three heavyweights Nestlé (+ 1.2%), Novartis (+ 1.0%) and to a lesser extent the good Roche (0.3%).
At the bottom of the ranking there was a small group consisting of Logitech and Givaudan (-1.6% each), Swiss Re (-1.4%), Iva and Schindler (-1.2% each), in addition to Geberit (- 0.8%).
In the broader market, Santhera (-1.5%) halved its net loss in the first half to nearly 30 million Swiss francs. At the end of June, the company had liquidity of 12.7 million Swiss francs, which allows it to secure the loan until the first quarter of 2023.
The Vaud insurer (+ 2.3%) will launch a buyback program for its securities. During this transaction, up to 100,000 registered B shares could be purchased, corresponding to approximately 3.3% of the share capital and 0.9% of the voting rights.
Leclanché (-1.8%) announced the departure of its chief executive officer (CEO) Anil Srivastava, replaced by Pierre Blanc, as well as the promotion of Phil Broad to head of the E-mobility unit.
Meyer Burger (stable) has started the period during which existing investors can exercise their subscription rights. This operation takes place as part of a capital increase that should make it possible to raise up to 250 million Swiss francs.
Huber + Suhner (-1.0%) announced the acquisition of UK-based Phoenix Dynamics at an undisclosed price.
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