The Swiss stock exchange closed lower, with the SMI down 0.26% at 11,384.92 points, marking a 3% loss over the week and reducing year-to-date gains to just 2%. Investor uncertainty stems from the Federal Reserve's cautious approach to interest rate cuts and concerns over a potential U.S. government shutdown. Notable declines were seen in UBS, Partners Group, and various insurance companies, while Idorsia plummeted 50.35% due to delays in drug negotiations.
The Swiss stock exchange closed down for the third consecutive day, with the SMI Index falling 1.01% to 11,642.39 points, marking its sharpest decline in nearly a month. Investor caution prevailed ahead of key economic data, including US inflation figures and upcoming rate decisions from the Swiss National Bank and the European Central Bank.In the market, Richemont and other economically sensitive stocks like ABB and Geberit faced declines, while Nestlé hit a new yearly low. The financial sector was impacted by discussions surrounding UBS's takeover of Credit Suisse, with several insurance companies also struggling.
The Swiss stock market closed mostly higher on November 28, 2024, with the SMI rising 0.57% to 11,709.80 points, despite a lack of significant market-moving news. Julius Baer led gains with a 2.1% increase, while technology stocks like Logitech also performed well amid easing US interest rates. Conversely, Swatch Group and Richemont saw declines, reflecting ongoing challenges in the luxury sector.
Swisscom, Richemont, and Sika are facing a challenging landscape as share prices decline alongside lowered profit forecasts. While Swisscom and Sika have seen only minor reductions since April, Richemont's profit expectations for the 2025 financial year have dropped significantly from 7.35 euros to 5.73 euros, marking a nearly 25% decrease.
The Swiss stock market rebounded on November 11, 2024, with the SMI closing 0.89% higher at 11,902.79 points after three weeks of losses. Swiss Re shares surged 3.6% following a UBS upgrade, while cyclical stocks like Sika and ABB also gained. Political developments, particularly regarding US President-elect Donald Trump, are expected to influence market volatility in the coming weeks.
US futures are lower, with the SMI down and UBS and Sika facing pressure, while the Swiss franc strengthens against the dollar and euro. Following a 25 basis point cut in key interest rates by the Fed, Wall Street's reaction was muted, particularly among technology stocks on the Nasdaq. UBS anticipates further rate cuts and a shift to a neutral policy from the Federal Reserve.
The Swiss stock market closed slightly up, with the SMI at 12,184.00 points, remaining below the 12,200 mark. Investors reacted to interim results from major companies like Holcim and SGS, while Wall Street gained ground due to falling bond yields and improved consumer confidence in the U.S. Business sentiment varied across Europe, with Germany showing slight improvement and Italy experiencing a significant decline.
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