(AWP / CF) The Swiss stock market was more flat on Wednesday. The losses of a two-day correction at the start of the week haven’t been fully compensated yet, but the 11,200 point mark is on hand again. Overall, US inflation data released in the afternoon had little impact on the Swiss Market Index (SMI). (SMI 11’165.83 + 0.39%)).
Richemont is one of the leading index winners (CFR 96.58 + 3.14%) Und Swatch Group (hour 281.80 + 0.57%). The two luxury goods factories benefited from LVMH’s strong results, as reported in the market. The global market leader posted unexpectedly strong first-quarter numbers the previous evening, which JP Morgan commented “much better than good”. One trader said the fact that Richemont is clearly ahead of Swatch Group may be due to the fact that the Geneva-based company is much larger than the Biel-based company that specializes in watches.
Lonza too (color 560.20 + 2.15%) To be found in the future. Supplier of drugs, active ingredients for the Covid-19 vaccination from the American company Moderna (MRNA 156.84 + 4.76%) Product, the demand for it is increasing again due to the temporary suspension of the J&J vaccine, they say.
Swiss credit (CSGN 9.77 -0.49%) And UBS (UBSG 14.56 + 0.97%) It appears after the overall positive quarterly results of the major US banks Goldman Sachs (P 336.11 + 2.57%)And JPMorgan and Wells Fargo are inconsistent.
Helvetia is located in the wide market (Helen 110.40 -1.69%) And Butcher (BUCN 492.80 -0.81%) On. At the insurance company, Kepler Cheuvreux downgraded to “downgrade” from “Hold” as well as target price to 98 from CHF 100. The industrial company owns the Royal Bank of Canada (RY 117.71 + 0.45%) The price target has been increased from 360 CHF to 420 CHF in the industry study scope and the rating remains “Sector Performance”.
You can find an overview of winners and losers here.
Dax (Dax 15’238.67 + 0.03%) Hardly changed
At the start of the US accounting season, European investors kept their powder dry on Wednesday. “Most of them keep their properties,” says portfolio manager Thomas Altman of QC Partners asset manager. This can also be seen in the significantly lower trading turnover recently. Dax on the spot in the afternoon. The index is only a few points separated from its recent high. Euro Stokes 50 (Euro Stokes 50 3’978.67 + 0.29%) Easily increases.
The biggest DAX winners are SAP stocks (Succulents 115.40 + 2.89%). A surprisingly good start to this year leaves the software giants optimistic. After the expected increase in Covestro, things are starting to look around in newspapers. Investment bank Jefferies said the plastic plant’s target operating profit is above expectations.
There is a mixed start to trading on Wall Street. Investors are focusing on the US balance sheet season, as the major banks usually portend. US investment bank Goldman Sachs and JPMorgan shine with a jump in earnings. In doing so, it exceeded the experts’ estimates.
The euro continues to rise towards $ 1.20
The Euro continued to rally on Wednesday and reached its highest level in nearly a month. At the daily high, it costs the EUR in US dollars (EURUSD 1.20 + 0.08%) $ 1.1974, same as last time in mid-March. By midday, the euro will decline only slightly to 1.957.
The euro in francs (EURCHF 1.10 + 0.26%) It can clearly stand out from the 1.10 CHF mark and the 1.1026 CHF charge after 1.0998 CHF the night before. Also the US dollar is in Swiss francs (USDCHF 0.92 + 0.17%) It is forming the ground and is trading higher at 0.9221 CHF after 0.9200 in the early morning.
Oil prices continue to rise
On Wednesday, oil prices rebounded on the previous day’s gains. By midday, quotes continued to expand insurance premiums from early trading. Price drivers are declining US oil reserves and expectations of higher demand from the International Energy Agency (IEA).
Barrel (159 liters) of North Sea Brent (Brent 64.80 + 1.28%) It was $ 64.67 at noon. This was exactly a dollar more than it had been the day before. The price of a US West Texas Intermediate barrel (WTI (West Texas Intermediate 61.56 + 2.45%)) 95 cents to $ 61.13.
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