(AWP / CF) The Swiss stock market was friendly Thursday. The positive economic outlook provides support after the US Federal Reserve announced that US economic growth had accelerated the night before. The first quarterly figures for companies were also well received by the markets.
Strong US retail numbers released in the afternoon confirmed the positive economic picture – even one market watcher spoke of “consumption craze” in the US thanks to the easing of lockdowns and state checks. The mood in the New York industry has also shone visibly. US markets opened up more firmly. Dow Jones (Dow Jones 33’978.91 + 0.74%) Plus the broader S&P 500 Index (Standard & Poor’s 500 4’134.70 + 0.41%) The technology Nasdaq Stock Exchange rose.
ABB continues to make the most visible gains (ABBN 30.13 + 2.9%). In the morning, the industrial group surprisingly published its first quarterly numbers due to unexpectedly good business performance and raised its sales forecast for the year as a whole. Analysts are impressed with the numbers. The ABB titles are among the clear winners in the market this year as well.
In Logitech (calm 102.10 + 0.44%) The trader cites the speculation about a share rise in the leading SMI index (SMI 11’213.12 + 0.51%) In the fall, as reported by Finanz und Wirtschaft, is a possible reason for the price increase. Accordingly, Swatch Group is able to do this (hour 278.40 -1.76%) In the leading index by Logitech or Straumann (STMN 1’249.00 + 0.56%) They replaced them, as these two outperformed the watch company in terms of market value.
Group value-added tax landed in the broad market (VACN 267.20 -4.16%) On. Your course opened higher, but then slipped into the red. The exhaust valve manufacturer grew faster than expected in the first quarter. Traders are talking about taking profits as per the “Sell on good news” slogan. The outlook for the company is very good, but the stake is now appreciated with great pride.
As prices fell, so did Zurich Airport shares (FHZN 155.40 -1.27%) To fight. The night before, the airport recorded a 74.4% decrease in passenger numbers in March 2021 compared to the previous year.
There are more big losses for the group of partners, which have risen to new highs in the past few days (PGHN 1’306.50 -1.21%). Shares in chip maker AMS have also suffered significant price drops (AMS 18.65 -3.14%). In the market, caution is cautious of sales statistics for major US customer Apple devices (AAPL 134.34 + 1.75%) Referred to.
DAX investors are feeling their way forward
Strong corporate balance sheets and hope for a continued economic recovery continue to drive European stock markets. Dax (Dax 15’247.94 + 0.26%) And Euro Stoxx 50 (Euro Stokes 50 3’987.27 + 0.28%) She is in plus. Driven by the end of the rental cap in Berlin, German property values in particular have risen strongly.
Yoshin Stanzel, chief market analyst at CMC Markets, said the uptrend in the exchanges remains intact, and smaller reversals are being used immediately to buy. (CMCX 509.00 + 0.39%). “In this environment, no investor is really ready to sell shares on a large scale, because that would also lead to an almost unsolvable reinvestment problem.” In order to continue looking for records, markets need a strong balance sheet season, as confirmed analyst Milan Cutkovic of Axi Trading House. In the US, this started out promisingly with billions of dollars in profits at major banks. During the day, Citigroup (C 73.36 + 0.62%) And Bank of America (Buck 38.66 -3.06%) Two other industry giants are opening their books.
Euro gives up price gains temporarily
The euro temporarily lost ground on Thursday. The euro is in US dollars (EURUSD 1.20 -0.06%) It costs $ 1.1966 at midday. At $ 1.1993, it temporarily reached its highest level since early March in the morning. In general, price fluctuations were limited.
The euro in francs (EURCHF 1.10 -0.16%) This also gives a bit of a trade and is still trading at 1.1050 CHF after 1.1058 in the morning. The US dollar in Swiss francs (USDCHF 0.92 -0.1%) Meanwhile, it was largely unchanged against the Swiss currency and was trading at 0.9232 CHF at noon (0.9236 tomorrow).
Oil prices have hardly changed
Oil prices fell on Thursday. But in midday trading, losses were limited. Market watchers reported a slight reaction to the price hike from the day before, when new data on oil reserves in the United States created a buying mood.
Barrel (159 liters) of North Sea Brent (Brent 66.34 + 0.06%) Another cost is $ 66.32. That was 26 cents less than the day before. The price of a US West Texas Intermediate barrel (WTI (West Texas Intermediate 63.19 -0.16%)) Fell 30 cents to $ 63.85.
Oil prices rose sharply on Wednesday after the US government reported a drop in crude oil inventories by more than double what analysts had expected. According to the data, the price of US oil rose by about two dollars in a short period of time. Usually lower stocks lead to higher prices.