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The Swiss stock market has kicked off the year strongly, with all SMI stocks rising except for Geberit and Kühne + Nagel International. Richemont leads the gains with a nearly 25% increase in year-to-date performance, driven by a 10% rise in sales to €6.15 billion, despite challenges in China.Technically, the SMI is testing last year's high of around 12,500 points, with potential to reach its 2021 record of 13,000 points if the global economy accelerates. A pullback below the 200-session moving average at approximately 11,950 points would invalidate this bullish outlook.
The Swiss stock market has started the year strongly, with all SMI stocks rising except for Geberit and Kühne + Nagel International. Richemont led the gains with a nearly 25% increase in year-to-date performance, driven by robust jewelry sales, while UBS benefited from positive results from US banks.Technically, the SMI is testing last year's high of 12,500 points, with potential to reach its 2021 record of 13,000 points in the coming months, contingent on global economic acceleration. A pullback below the 200-session moving average at 11,950 points would invalidate this bullish outlook.
Switzerland faces challenges as families receive eviction notices amid rising real estate speculation, raising concerns about social stability. While the economy shows some resilience compared to the EU, major Swiss companies like Roche and Nestlé struggle with poor management decisions, impacting investor confidence. The promise of a prosperous decade seems overshadowed by the realities faced by many employees and smaller investors.
Kühne + Nagel International AG
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Swiss stock market rallies as Richemont drives optimism and growth
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Swiss stock market poised for growth with Richemont leading the charge
Euro
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CHE
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swiss economy faces challenges amid real estate turmoil and corporate struggles
Swiss Franc
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UBS Group AG
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POL
Klaus-Michael Kühne
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19:56 20.12.2024
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