Zurich Stock Exchange: opening firmer response to recent losses
Zurich (AWP) – The Swiss stock market opened on a positive note on a broad front on Monday. The market is trying to recover from the substantial losses in the past two weeks. It is supported by the rise on Wall Street Friday and the Asian markets on Monday. Whether we are seeing more than just a technical reaction, the question remains open.
The evolution of the various crises continues to attract attention, especially Ukraine and fundamentals play a lesser role in determining the mood, noted experts from Credit Suisse. If climbing in Ukraine and Iraq, markets could plunge. Conversely, a relaxation of the situation would likely lead a relief rally. Anyway, nervousness remains high, as market volatility.
9:30, the SMI gained 0.72% to 8333.93 points. SLI rose 0.81% to 1256.66 points and the SPI of 0.83% to 8246.42 points. Of the thirty blue chips, 27 progressed, both retreating and Nestle was unchanged.
At the top of the winners, Lonza and Sika each took 2.2% before Adecco (+ 1.9%). The temporary working group announced a small acquisition, with no effect on its financial results, he has said. Last week, Adecco had lost 5.5% due to weak market environment.
Other values for, Sonova and Clariant each earned 1.7% and 1.6% Novartis. Friday, Novartis had lost more than 1%. This morning, the Basel group published details of study with LCZ696, a candidate for treating heart failure and whose license applications should be completed by the end of the year.
Holcim gained 0.7% after UBS confirmed its buy recommendation with a slight reduction in price target. Analysts have some big bank lowered their earnings forecasts after the half-year figures, disappointing.
The two losers (-0.1%) were Swisscom and Credit Suisse. Swisscom announced the final interim results of its takeover bid for PubliGroupe.
Besides Nestlé (unchanged), Transocean and Zurich (each 0.3%) were satisfied with a small lead in the bottom.
In the broader market, DKSH jumped 6.6% after its half-year figures in the middle of analysts’ expectations. After the fall of the action since early May, stakeholders are satisfied that the interim results were not worse than expected.
Zehnder was even better with a gain of 8.7%. Vontobel found the half-year figures “mixed” while the BC Zurich noted that they had exceeded their expectations. Forecasting revenue is a little more cautious, but earnings expectations have been confirmed.
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