Zurich Stock Exchange: the last session of the week promises to be positive

Zurich (awp) – The Swiss stock market should start the final session of the week on a positive note, according to preliminary indications compiled by Julius Bär. The renewed optimism is mainly fueled by the new highs recorded by the Nasdaq and the Standard&Poor’s 500 on Wall Street.

“Producer prices in the United States fell month-on-month in May, the first decline since January (…) and while analysts were expecting a recovery,” points out Ipek Ozkardeskaya for Swissquote. The number of claims for unemployment benefits at the same time reached a nine-month high, which also called for an easing of monetary policy by the Federal Reserve System (Fed), the analyst continues.

The Bank of Japan signaled overnight that it would scale back its massive purchases of domestic government bonds, without commenting at this time on the scale of the measures or adjusting its key rate, held between 0.0% and 0.1% since March.

The day promises to be calm in our latitudes, the economic and listed companies’ calendars are practically empty.

It was up 0.31% at 12,133.31 points, in shades of green, ahead of the SMI at 8:10 a.m.

The heavyweights dragged their feet, with Nestlé, Novartis and good Roche gaining 0.2%. The aforementioned ultimate still benefits from a complimentary comment from Bernstein, who raised his price target.

Pharmaceuticals subcontractor Lonza, which benefited from the same treatment, appreciated 0.5%.

At the top of the table, Zurich Insurance (+0.7%) pushed back the start date of its next 1.1 billion Swiss franc share buyback program to June 17.

There was also a good mood in the broader market, where SGS (+0.2%) recorded the worst performance.

jh/fr

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