CH conclusion: SMI with a friendly start to the week – in the spotlight H1

Zurich – The Swiss stock market closed slightly higher on Monday. If the start of the day was still a bit bumpy, the market rebounded during the morning before coming to a halt. The main focus was on the two blue chips that have published their numbers today: Julius Baer and Kuehne + Nagel. There was also a surprise in the rear rows with the Bobst purchase offer. Besides, the day was rather quiet. “The figures are low, you could say it’s a summer vacation,” said one market participant.

Despite the lethargy and lethargy, this week should not be so quiet: as many as seven blue chips will publish their results by Friday. From the European Stoxx 600 index and the American S&P 500 index, about a third of all companies will publish their quarterly data this week. The Federal Reserve will also make a decision on interest rates in the middle of the week, which is probably the most important event. The Fed is likely to raise interest rates again by at least 75 basis points.

SMI closed by 0.30 percent. higher, reaching 11,129.35 points. The SLI, which includes the top 30 stocks, closed virtually unchanged at 1,706.02 points and the broad SPI ended trading at + 0.22%. to 14 373.05 points. Ultimately, 14 winners and 16 losers faced SLI.

Running on top Julius Baer (+ 2.2%) all other titles. After the bank released lower-than-expected quarterly results this morning, the stock started trading at a discount, but then saw a brilliant return. “On the one hand, the titles were already low,” commented the trader, “on the other hand, the bank’s plans to save costs and increase efficiency are well received by investors.”

they were also asked Richemont (+ 1.9%), which already increased significantly in the previous week, after an initial sharp decline in the middle of the month according to quarterly data. Swatch lost some strength towards the close again and closed 0.2 percent higher.

Two large banks also closed much tighter UBS (+ 1.4%) i CS (+ 0.8%). The former will present its data for the second quarter tomorrow. CS will start on Wednesday.

Other financial stocks such as Swiss Re (+ 1.4%), Swiss life and Zurich (both + 0.8%) from trade. According to one market participant, the prospect of a significant rate hike by the Fed on Wednesday should give impetus to financial equities.

The whole market was also supported by heavy weights throughout the day Roche (+ 0.8%) i Cuddle (+ 0.6%). At closing, they pushed SMI by 35 points, while the third in the league, Novartis left the market practically unchanged.

Logistics group actions Kuehne + Nagel (-2.5%) were among the biggest losers in the market, although the results for the second quarter presented today clearly exceeded analysts’ expectations. However, market participants are concerned about unclear guidelines for the full year. “Moreover, these strong numbers cannot be repeated. When the economy slows down, results can also fall, “commented one trader.

Technology actions such as temenos (-3.2%) Logitech (-2.4%) VAT (-1.0%) or AMS Osram (-0.4%). In addition, above-average price drops were recorded among representatives of the healthcare industry, mainly in lunge (-2.2%). But also Straumann, Sonova and Alcon lost from 0.5 to 2.0 percent.

In the rear rows Bobst surprise: the main shareholder of JBF Finance from the founding family of Bobst made a takeover offer to the public shareholders. He offers 78 francs per share and if everything goes well, he wants to take the company off the stock exchange. Shareholders, however, seem to be counting on a higher price: the title came out with a plus of 15.1 percent to CHF 79.00.

Losing after initial wins Peach property according to statements about the course of activity in trade closing 1.4 percent. energy servicewhich also presented figures, increased by 1.7 percent. Zurich airport (-3.3%) was affected by a negative comment from an analyst. (awp / mc / str.)

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