The Swiss stock market opened positively on Wednesday, recovering from previous losses linked to escalating Ukraine war concerns. The FuW Swiss 50 Index rose by 1.02%, with Holcim leading gains after an upgrade from JPMorgan, while Nvidia"s upcoming earnings are anticipated to significantly impact global markets. EFG International"s CEO projected a strong 2024 despite missing client money expectations.
The Swiss stock market showed minimal movement, with the SMI down 0.07% to 8215.17 points and the SPI down 0.04% to 8908.21 points. Credit Suisse saw a surprising profit but fell 2.25%, while UBS and Julius Bär also declined. Defensive stocks like Nestlé and Roche had mixed results, and Logitech surged 7.83% in the broader market.
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.
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