Aktien Zrich close: SMI closes little has changed | News

ZURICH (dpa-AFX) – The Swiss stock exchange closed with a slight change on Wednesday. After clearly negative morning quotations, SMI limited its losses in the afternoon and rebounded at 10,800 points. Market sentiment was shaped by concerns about global economic growth.

Economic worries fueled the unexpectedly weak consumer sentiment in the United States. If private consumption in the US continues to decline, this could be a sign of an impending recession, according to a market observer. Meanwhile, new inflation data from Germany show that inflation slowed down somewhat. Economists, however, spoke more of a respite than a turning point.

The Swiss Market Index (SMI) closed 0.02 percent to 10,811.75 points. SLI, which includes the top 30 stocks, fell 0.36 percent. to 1,656.26 points, and the broad SPI lost 0.13 percent. up to 13,908.32 points Of the SLI shares, 22 fell and eight gained.

Technology stocks have come under a lot of pressure throughout the day. The biggest losers in SMI / SLI were the shares of the chip manufacturer AMS OSRAM (-4.5%). The shares of the manufacturer of vacuum valves VAT (-3.0%) and the company Logitech (-2.8%), specializing in computer accessories, also clearly decreased.

Other typical cyclical stocks also fell, such as the shares of the recruitment agency Adecco (Adecco SA) (-3.2%), the cement company Holcim (-1.6%) and the construction chemicals specialist Sika (-1.4%). . The stocks of pharmaceutical supplier Lonza (-1.4%), weak this year, also suffered losses.

Banks such as Julius Baer (-2.4%) or major banks, Credit Suisse (Credit Suisse (CS)) (-2.3%) and UBS (-1.9%), also fell under pressure. Analysts of the German Oddo BHF positively assessed Tuesday’s day of the CS investor in their comments. However, due to the difficult business and capital market environment they lowered their forecasts and target price.

The shares of the banking software producer Temenos also fell (-1.4%). Recently, speculation about the takeover has shifted the share price. However, recent weak price developments now indicate that rumored takeover talks may have been severed, one trader said.

In terms of the value of insurance, the shares of the reinsurer Swiss Re decreased significantly (-1.1%), as well as the shares of the individual insurer Swiss Life (-1.2%). Zurich Insurance (-0.1%) fared slightly better.

Shares of the telecoms group Swisscom (-0.5%), which are considered defensive, have suffered as JP Morgan analysts downgraded to “neutral” from the previous “overweight”. Despite the good dynamics of profits, experts see greater potential in European industry neighbors, such as BT Group or Deutsche Telekom.

In equities of the two biggest pharmaceutical companies in Basel, Roche (+0.7 percent) was stronger all day, while Novartis (+0.1 percent) was still slightly positive towards the end of trading. Deutsche Bank analysts lowered the target price for Novartis on Wednesday, maintaining the “sell” rating.

The indices were also supported by strong Nestlé (+1.6%). Experts from the Kepler company maintained their recommendation to buy shares in a French-speaking Swiss food company. Other clear daily winners included shares of dental technician Straumann (+ 2.2 percent) and perfume manufacturer Givaudan (+ 2.6 percent).

In the wider market, the titles of Dufra’s duty-free specialist (-7.4%) continued to decline following merger talks with Italian Autogrill, which had been confirmed the day before. Analysts doubted the merits of the merger: the differences in the airport and highway business are too great.

Santhera also recorded significant losses (-7.0%). Basel-based biotechnology company had to file failure with U.S. valid candidate approval application for lek./tp/tv/AWP/zb

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