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ZRICH (Dow Jones)–The stock market in Switzerland was unable to hold up higher premiums from early trading and only closed with small gains. Attention has shifted somewhat away from the stressful hotspots and towards the reporting season, it said. On Wall Street, for example, the shares of the Facebook parent Meta initially increased by 15 percent. Positive quarterly figures also came from Switzerland. But the pressing factors remained: rising interest rates and inflation, the lockdowns in China and the war in Ukraine. The excitement about the Russian gas supply freeze for Poland and Bulgaria has subsided somewhat, but concerns remain that other countries could come under the Kremlin’s sights.
The SMI gained 0.1 percent to 12,068 points. In the 20 SMI stocks, there were eleven price winners and nine losers. 38.25 (previously: 47.85) million shares were traded.
After solid first-quarter figures, Swisscom rose by 2 percent. According to Morgan Stanley, sales were in line with expectations, while EBITDA was 2.8 percent above estimates. Straumann posted record sales, with the share up 4.5 percent.
Temenos jumped a good 17 percent. Once again, the banking software specialist is classified as a potential takeover target. On the stock exchange it is pointed out that there should be a takeover interest from several sides. The company also presented the figures for the first quarter this week, which were convincing in terms of both sales and EBIT.
Holcim became cheaper by 0.4 percent. Deutsche Bank downgraded the stock to hold from buy. The downgrade is due to possible restrictions in the gas supply and increasing risks for residential construction in the USA, but also in Europe.
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(END) Dow Jones Newswires
April 28, 2022 11:37 ET (15:37 GMT)
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