{ }
The Swiss stock exchange experienced a downward trend, with the SMI index closing at 8056.71 points, down 0.35%. Banking stocks faced pressure due to uncertainties surrounding Brexit and low interest rates, while defensive heavyweights like Novartis and Nestlé showed slight gains. In the broader market, Sulzer surged 11.47% following its acquisition of Geka, while EFG International struggled, dropping 6.30%.
The Swiss stock exchange turned negative, with the SMI down 0.30% to 8060.69 points and the SPI losing 0.37% to 8704.05 points amid low trading volumes. Banking stocks faced pressure, particularly UBS (-1.86%) and Credit Suisse (-1.52%), due to uncertainties around Brexit and low interest rates. Defensive stocks like Novartis (+0.44%) showed resilience, while Sulzer surged 10.59% following its acquisition of Geka.
The Swiss stock exchange started the week positively, with the SMI Guiding Values Index rising 1.51% to 7982.44 points, while the SPI gained 1.50% to 8311.73 points. The market's optimism is fueled by increasing oil prices, benefiting companies like Transocean and cyclical stocks such as ABB and Adecco. Notable gains were also seen in banking and insurance sectors, with UBS and Swiss Re performing well, while EFG International faced a decline after announcing its acquisition of BSI.
The Swiss stock market is on an upward trend, with the SMI Index rising 1.25% to 7911.11 points and the SPI gaining 1.29% to 8216.60 points. Traders note a stabilization phase despite lingering uncertainties, while stocks like ABB, Adecco, and LafargeHolcim show strong performances. In the luxury sector, Swatch and Richemont benefit from positive expectations for Chinese New Year sales, while Clariant faces pressure due to disappointing figures.
UBS has maintained a "Neutral" rating for Zurich Insurance, setting a target price of 475 Swiss francs, citing positive financial trends and capital flexibility from its Farmers Group subsidiary. However, the property and casualty insurance segment's turnover growth fell short of expectations. Zurich shares rose 1.2% to CHF 526.60, reflecting a 26.8% increase in 2024, with a downside potential of 9.80% relative to the target price. Q4 2024 results are anticipated on February 6, 2025.
UBS has maintained a neutral recommendation for Zurich Insurance Group Ltd, which primarily generates its revenue from general insurance (78.9%). The company also earns from life insurance (6.8%) and various other activities, including investment and market banking, reinsurance, and asset management, contributing to 1.1% and 13.2% of its income, respectively.
UBS has maintained a 'Neutral' rating for Zurich Insurance Group with a target price of 475 Swiss francs, following the release of nine-month figures. Analyst Will Hardcastle noted positive trends in financial strength and capital flexibility from the Farmers Group subsidiary, though property and casualty insurance sales fell short of expectations.

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.