The Swiss stock market experienced minimal movement this morning. The SMI Guiding Values Index was at 8215.17 points, down 0.07%, and the SPI index lost 0.04% to 8908.21 points. After a slight dip at the opening, the market briefly turned positive before stabilizing again.
The focus of the market is on monetary policy following the Federal Reserve's decision to keep the benchmark rate unchanged without clear guidance on future tightening, which some analysts suggest could happen in September. Credit Suisse shares fell 2.25% despite reporting a surprising profit for the second quarter, initially rising 3% at the open. Other major banks also experienced declines, with UBS down 0.59% and Julius Bär down 0.86%. Insurance companies such as Zurich, Swiss Life, and Swiss Re also reported losses. Economic-sensitive stocks like ABB, Adecco, and LafargeHolcim showed negative trends, while in the luxury sector, Swatch managed a slight gain of 0.04%, contrasting with Richemont's decline of 0.25%. Defensive stocks Nestlé and Novartis saw minor losses, while Roche gained 0.40%.
In broader market movements, Clariant dropped 2.48%, while Logitech surged 7.83%, Bobst rose 2.19%, and Basel Cantonal Bank increased by 0.83%.