Swiss Market Closes Sharply Lower On Weak Global Cues

RTTNews | Pred 953 dňami
Swiss Market Closes Sharply Lower On Weak Global Cues

(RTTNews) - Swiss stocks fell sharply on Monday, tracking weak global markets amid rising fears of a possible recession, and on news about a surge in coronavirus cases in China.

With the Federal Reserve very likely to hike interest rates by 50 basis points on Wednesday, and expected to keep hiking rates this year, traders are increasingly concerned tighter policy measures could trigger a period of stagflation or an outright recession.

The benchmark SMI, which fell to a low of 10,855.25, ended the session with a loss of 188.37 points or 1.7% at 10,896.25.

Nestle, which advanced by about 0.6%, was the lone gainer in the SMI index.

Partners Group shed nearly 5%. Logitech and Lonza Group ended lower by 4.35% and 4.16%, respectively.

ABB, Credit Suisse, UBS Group, Alcon and SGS lost 3.3 to 3.55%. Sika, Swiss Life Holding, Geberit and Richemont drifted down 2.6 to 3%. Roche Holding, Swiss Re, Givaudan and Novartis also ended sharply lower.

In the Swiss Mid Price Index, Temenos Group tanked more than 10%. AMS ended 9.7% down, Zur Rose drifted down 8.71% and Dufry closed lower by 7.57%.

Julius Baer lost about 6.4%. Adecco, Straumann Holding, SIG Combibloc, VAT Group, BB Biotech, Georg Fischer and Sonova shed 4 to 5.4%.

Tecan Group, Schindler Holding, Bachem Holding, Flughafen Zurich and Schindler Ps also ended sharply lower.

read more
DAX Rises On Rate Cut Hopes, Adidas' Upbeat Results

DAX Rises On Rate Cut Hopes, Adidas' Upbeat Results

Despite lingering concerns about potential trade tariffs, German stocks are up firmly in positive territory Wednesday morning, reacting to upbeat earnings updates from Adidas, and U.S. President Donald Trump's announcement of a big investment in AI infrastructure in the United States.
RTTNews | Pred 5 h 17 min
Netflix Stock Gains On Upbeat Q4, Bullish Guidance

Netflix Stock Gains On Upbeat Q4, Bullish Guidance

Netflix Inc.'s shares gained around 14 percent in the after-hours trading on Tuesday and are currently up 14 percent in the pre-market activity, as the streaming video giant issued positive outlook for its first quarter and lifted fiscal 2025 view. The fourth-quarter earnings beat market estimates with significant growth. The results and outlook mainly reflected 19 million net additions...
RTTNews | Pred 5 h 19 min
Pound Slides Amid BoE Rate Cut Speculation

Pound Slides Amid BoE Rate Cut Speculation

The British pound weakened against other major currencies in the Asian session on Wednesday, as traders speculate a rate cut by the Bank of England (BoE) in February.
RTTNews | Pred 5 h 24 min
Asian Shares Mixed Amid Trump's Tariff Threats

Asian Shares Mixed Amid Trump's Tariff Threats

Asian stocks ended mixed on Wednesday, with Chinese and Hong Kong markets falling sharply after U.S. President Donald Trump threatened tariffs on the EU and China to address trade imbalances and combat fentanyl trafficking.
RTTNews | Pred 6 h 3 min
Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the Asian session on Wednesday.
RTTNews | Pred 6 h 23 min
Yen Falls As Asian Stock Markets Traded Higher

Yen Falls As Asian Stock Markets Traded Higher

The Japanese yen weakened against other major currencies in the Asian session on Wednesday, as Asian stock markets traded higher following the broadly positive cues from global markets overnight, as optimism about a few interest rate cuts by the U.S. Fed this year, and a drop in global bond yields. Markets in China and Hong Kong were down as the U.S. administration was discussing a 10 tariff against China and said tariffs on China could hinge on a deal over TikTok's ownership.
RTTNews | Pred 8 h 14 min
European Economic News Preview: UK Public Sector Finance Data Due

European Economic News Preview: UK Public Sector Finance Data Due

Public sector finance from the UK is due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK government borrowing data for December. The budget deficit is forecast to widen to GBP 13.7 billion from GBP 11.25 billion in November.
RTTNews | Pred 8 h 26 min