Equities Switzerland are going into the weekend – Zurich “ex” | news
ZRICH (Dow Jones)–The Swiss stock market has said goodbye to the weekend. As already seen on the previous days, it lagged behind the neighboring exchanges this time, but this time on the way up because the SMI market barometer contains a number of heavily weighted defensive stocks. There were no specific interruptions to the improved mood on Friday. In trading there was talk of a countermovement to the recent losses, a frequently seen pattern that had started in trading on the US stock exchanges on Thursday.
The SMI gained 1.1 percent to 12,508 points. In the 20 SMI stocks, there were 17 price winners and 3 losers. 37.79 (Thursday: 39.79) million shares were traded.
The price gains went all over the place without recognizable industry focuses. At the top was the previous day’s loser Swiss Re, followed by Novartis, Credit Suisse and Richemont with gains of 2 to 2.4 percent.
At the very bottom were Zurich Insurance. The minus of 2.1 percent or 9.30 francs was due to the dividend deduction of 22 francs. Adjusted for this, the share would also have risen by a good 12 francs.
Sika was down 0.1 percent. Analysts at Baader Helvea have downgraded the stock to “add” from “buy,” along with several other European chemical stocks. EMS Chemie, which was confirmed with “Add”, fell by 0.2 percent. With the Russian invasion of Ukraine, analysts in the European chemical sector are facing crucial changes, for example in terms of supply and demand in the automotive industry and other important end customers.
The shares of the ophthalmology group Alcon closed 0.6 percent fester. Needham analysts have given Alcon an initial rating of Buy.
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(ENDS) Dow Jones Newswires
Apr 8, 2022 11:43 ET (15:43 GMT)
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