Swiss Market Ends Weak Again

RTTNews | 24 дней спустя
Swiss Market Ends Weak Again

(RTTNews) - For the second consecutive day, the Switzerland market languished in red right through the day's session, as weak earnings updates from U.S. technology majors Microsoft Inc., and Meta Platforms, and weak euro zone inflation data hurt sentiment and sent stock prices drifting down south on Thursday.

The mood was extremely cautious with investors looking ahead to Swiss inflation data and retail sales report, due on Friday. A reading on the country's manufacturing activity in the month of October is due as well.

The benchmark SMI ended down 174.78 points or 1.46% at 11,792.92. The index touched a low of 11,745.30 in the session.

Swisscom lost 5.05% and Partners Group ended 3.71% down. Julius Baer, UBS Group, VAT Group, Sonova and Roche Holding ended lower by 2 to 2.5%.

Alcon, Logitech International, Novartis, Swatch Group, ABB, SIG Group, Straumann Holding, Givaudan, Swiss Life Holding, Richemont, Nestle, Zurich Insurance, and Holcim lost 1 to 1.9%.

Avolta ended nearly 2.5% down, despite the company confirming its medium-term targets after reporting strong third-quarter results.

Geberit bucked the trend and moved up by about 4.7%. The company booked a year-over-year rise in third-quarter net income and net sales to 150 million francs and 762 million francs, respectively, from 148 million francs and 728 million francs.

Eurozone inflation accelerated more than expected in October on food and energy prices but it remained within the target of the European Central Bank, bolstering the case for a gradual monetary policy easing.

The harmonized index of consumer prices posted an annual growth of 2%, the flash estimate from Eurostat showed. Inflation was forecast to rise to 1.9% from 1.7% in September.

Core inflation that excludes energy, food, alcohol and tobacco, remained unchanged at 2.7% in October. The rate was seen at 2.6%.

read more
Bay Street Likely To Open Lower On Weak Commodity Prices

Bay Street Likely To Open Lower On Weak Commodity Prices

The Canadian market is likely to open with a negative bias Monday morning, tracking weak crude oil and metal prices. U.S. futures are higher, reacting to Donald Trump's decision to nominate hedge fund manager Scott Bessent as U.S. Treasury Secretary.
RTTNews | 5ч 26мин назад
Dollar's Dazzle Undiminished

Dollar's Dazzle Undiminished

The Dollar's rally continued during the week ended November 22 lifting the 6-currency Dollar Index to a 2-year high.
RTTNews | 5ч 52мин назад
Pound Rises As Traders Expect BoE Slow Policy-easing Path

Pound Rises As Traders Expect BoE Slow Policy-easing Path

The British pound strengthened against other major currencies in the European session on Monday, as traders anticipate that the Bank of England (BoE) would slow down its policy-easing process in the upcoming month, particularly in light of data that was made public last week that indicated the UK inflation accelerated and once again exceeded the 2 percent target.
RTTNews | 7ч 37мин назад
Sensex, Nifty Rally On Firm Global Cues

Sensex, Nifty Rally On Firm Global Cues

Indian shares ended Monday's session sharply higher after BJP-led alliance scored significant victory in the Maharashtra state assembly elections, raising expectations for increased government spending to boost domestic demand.
RTTNews | 8ч 6мин назад
German Business Confidence Weakens In November

German Business Confidence Weakens In November

German business sentiment softened in November on a notable deterioration in current conditions as economic struggles deepened, survey results from ifo Institute showed on Monday. The business climate index fell to 85.7 in November from 86.5 in the previous month. The score was expected to fall moderately to 86.0. At 84.3, the current situation index dropped to the lowest since July 2020.
RTTNews | 8ч 30мин назад
European Shares Gain On Rate Cut Hopes

European Shares Gain On Rate Cut Hopes

European stocks traded higher at two-week highs on Monday after Donald Trump nominated Scott Bessent, a billionaire hedge fund manager and an advocate for deficit reduction, to lead the U.S. Treasury Department.
RTTNews | 8ч 53мин назад