ZURICH (Dow Jones)–The Swiss stock market left trading on Friday with small losses. Surprisingly strong US labor market data for December raised hopes of an early one Interest rate cut the US Federal Reserve further dampened. Corporate news was once again in short supply. That is only likely to change at the start of the accounting season.
The SMI lost 0.3 percent to 11,186 points. Of the 20 SMI values, there were 15 price losers and five winners. The volume continued to thin out: 14.89 (previously: 18.87) million shares were sold.
Observers blamed profit-taking for some of the price losses. As in previous days, investors separated themselves from last year’s high-flyers. Among others, ABB lost 1.3 percent, Sika 0.7 percent and Partners Group also lost 0.7 percent. Kuehne + Nagel, which had benefited from the rapidly rising sea freight rates on Thursday, now fell by 0.9 percent.
Novartis gained 0.6 percent. The pharmaceutical company has received approval from the US Food and Drug Administration (FDA) to manufacture its radioligand therapy Pluvicto at the new Novartis factory in Indianapolis.
In some cases, analyst comments drove prices. In the second row, Julius Baer fell by 0.8 percent. Jefferies analysts had lowered their estimates and price target ahead of the upcoming financial figures for 2023 after the figures for the first ten months were consistently disappointing, although the buy recommendation was reiterated. Docmorris On the other hand, they made a rate of 12.7 percent after Berenberg upgraded the shares to “Buy”. Stifel expressed skepticism about Swatch (-2%) and lowered its earnings range and price target.
Contact the author: [email protected]
DJG/cln/mgo
(END) Dow Jones Newswires
January 05, 2024 11:42 ET (16:42 GMT)
Selected leverage products on ABB (Asea Brown Boveri)
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on ABB (Asea Brown Boveri)
The leverage must be between 2 and 20
Advertising