Zurich Stock Exchange: the opening is expected to rise slightly, caution remains in place

ZURICH (awp) – The Swiss stock market was poised for a slightly higher open on Wednesday, although caution remained in place, while Wall Street ended the previous evening in disarray. Investors should focus on the easing of US inflation as well as the decision of the US central bank, the Federal Reserve (Fed), at the end of its two-day meeting.

“The European political crisis doesn’t matter if we have American drunkenness: that could be the summary of yesterday’s session with a new record for the S&P 500 and the Nasdaq,” notes John Plassard in his commentary from Mirabaud Bank. . And this despite the theoretical excitement of investors before the publication of inflation numbers and the Fed meeting.

US markets were hardly affected by the “Ciotti shock” in France, when the chairman of the conservative Les Républicains party, Éric Ciotti, said his party should challenge Emmanuel Macron by entering into an alliance with the far-right National Assembly and “all those who identify with by the ideas of the right”. This had never been considered before.

Among the first macroeconomic data, consumer prices in China rose for the fourth month in a row in May. The sharp increase in inflation confirms the departure of the Asian country from the period of deflation. However, much remains to be done for a sustainable recovery of the world’s second largest economy. Because since the end of the strict Covid health policy at the end of 2022, the government has stepped up policies to encourage consumers to spend, with mixed results.

Ahead of the Fed’s May meeting and inflation (CPI) in the United States, investors will be examining UK growth in April today.

On the Swiss stock exchange, the SMI index was at 12,090.03 shortly before 8:20 a.m., up 0.14%, according to premarket calculations by Julius Bär bank. With the exception of Lonza (-1.3%), all twenty shares of the main index advanced between 0.25 and 0.13%.

UBS (+0.2%) is at the head of the starting grid, the Swiss bank number one is accompanied by the Geneva luxury giant Richemont (+0.2%), Holcim, Logitech, ABB and Alcon (all +0.2%). The three heavyweights of the rating, the good Roche as well as the registered companies Nestlé and Novartis, found themselves at the bottom of the list ahead of Swisscom and the red lantern Lonza.

Excluding SMI, Ypsomed grew by 1.2%. The Bernese injection equipment manufacturer is delighted to have placed its new autoinjector with Medac on Wednesday. Ypsomate 1.0 must gradually replace the tool from New Jersey competitor Beckton Dickinson in the composition of the methotrexate self-administration pen of the German pharmaceutical group.

Siegfried (+1.2%) was also well placed. A pharmaceutical subcontractor from Aargau has signed an agreement with its New York counterpart Curia Global to purchase an initial development site in Wisconsin. The Zofingen Group kept the financial details of the transaction under wraps while ensuring it had the necessary funds.

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