SMI closes below 9400 | Stock markets



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(AWP / SPU) The Swiss equity market declined on Monday, continuing the downward trend that started at the end of the previous week. The leading Swiss Market Index SMI (SMI 9390.27 -2.48%) it lost 2.1% shortly after opening. At the beginning of the trade it fell below 9400. It remained around this mark until the end of the trade and was below the end of the trade. After the strong recovery from the end of March to almost the end of April, the mood turned negative again. This was caused by new tensions between the United States and China. United States President Donald Trump wants evidence that the crown pandemic originated in a Chinese research laboratory. The president’s heightened rhetoric has fueled concerns about a renewed breakdown of the trade dispute, the trade said.

Investors are currently being bombarded with weak economic data and mixed with poor corporate results, according to a comment from online bank Swissquote. (SQN 61 -2.4%). If, in addition to the tensions caused by the measures against the coronavirus, there were new signs of a resurgence of the conflict between the United States. USA And China, the hopes of a reasonably fast recovery in the global economy would be diminished again.

Also in New York, the signs were mostly negative. However, there was no big drop in prices on Wall Street until the end of trade in Europe. The spacious S&P 500 (SP500 2836.81 0.22%) Lost 0.5%. The dow (Dow 33.0699 -2.53%) Jones (Dow Jones 23706.75 -0.07%) yielded 1%. Meanwhile, the tech exchange index, the Nasdaq Composite, turned positive and traded 0.3% firmer.

Lonza and Roche on top

Lonza in particular closed at the SMI (LONN 435 3.23%) Stronger News of a collaboration with American biotech company Moderna gave a boost here. This is the development of a Covid-19 vaccine.

Roche’s certificates of participation also increased with a plus (ROG 337.6 0.64%) Against the trend. After the company announced two weeks ago that it was working on a new crown test, the FDA approved it overnight Sunday.

The fact that the SMI minus was not even higher was mainly due to the relatively stable heavyweights. Nestlé’s losses (NESN 99.81 -2.05%) were limited at Novartis (NOVN 80.55 -2.08%) taxes were somewhat higher.

Big banks like UBS saw a major drop (UBSG 9,752 -5.69%) and Credit Suisse (CSGN 8,196 -6.07%). In the abbreviated previous week, they were by far the strongest winners with a rise of just under 13% (CS) and just under 14% (UBS). Therefore, they would have the highest profit-taking potential in the now negative mood, according to market circles. Bank Berenberg also downgraded the “hold” rating for UBS, thereby canceling the buy recommendation.

Insurance stocks like Swiss Re (SREN 65.4 -6.12%), Zurich Insurance (Angry 290 -5.63%) or Swiss life (SLHN 324.1 -5.21%) they were under pressure again. For Swiss Re, Deutsche Bank had (DBK 6,426 -5.19%) it lowered the target price, referring to the high insurance costs associated with Corona.

There were significant liens on economically sensitive papers like ABB (ABBN 17.34 -5.38%)Adecco (ADEN 40.82 -3.52%)Richemont (CFR 52.46 -4.3%) and Swatch Group (WATCH 183.2 -5.15%).

Geberit (OUTCOME 409.8 -5.38%) Credit Suisse went from “Underperform” to “Neutral”, following unexpectedly strong quarterly figures released on Thursday.

At the end of the SMI chart, the actions of eye care specialist Alcon were (ALC 48.1 -5.58%).

Dufry was clear

Big losses in the SMIM (SMIM 2,229,304 -3.08%) Dufry travel retail stocks (DUFN 29.45 -6.3%). They broke with the recovery trend of recent days. Last week, voices were heard in the marketplace describing the worst-case scenario designed by management as overly optimistic. Zurich airport was also weak (FHZN 110.3 -7.39%).

Chip maker AMS titles (AMS 12.67 0.8%) turned positive after making significant corrections in early operations. Logitech too (LOGN 46.51 0%) I found the way to more. Another technological value, namely Temenos (TEMN 120.25 -4.26%), meanwhile, he stayed deep inside.

VAT group (VACN 152 -4.52%) it returned from its recent high with clear losses. Other industrial actions like Clariant (CLN 16,995 -4.87%) or Georg Fischer (END 679 -5.63%) Also lost.

Zur Rose Mail Order Pharmacy Stocks (ROSE 157 -0.88%) recovered from initially clear losses. However, they were close to their all-time highs so far. The Kreuzlingen prosecutor has filed charges against CEO Walter Oberhänsli.

Ypsomed (YPSN 134.8 6.14%) clearly gained in value. The medical technology company has established a partnership in the field of diabetes therapy with the American company Dexcom, which is well received by analysts and investors.

Newron share price (NWRN 1.8 -71.2%) was pulverized. The shares lost approximately 90% after the biopharmaceutical company failed with a major study.

Much weaker image in Asia

In Asia, the stock markets were not very significant on Monday. The stock exchanges in Japan and mainland China remained closed due to a public holiday. The Hang Seng (Hang seng 23613.8 -4.18%) Hong Kong fell 4%, Korean Kospi fell 2.7%.

Lower exchange rate of the euro against the dollar

The euro exchange rate fell markedly on Monday. At night, the common currency was $ 1.0916, half a cent less than in Asia. Traders gave the stronger dollar as the reason. The euro fell slightly against the franc compared to Friday night. At the close of trading in Europe, it cost CHF 1.0532 and the dollar rose to CHF 0.9650.

Oil price clearly at the plus

The price of oil rose on Monday night. One barrel (159 liters) of the North Sea Brent (Brent 27.74 7.35%) It costs around $ 26.50. In the first operations, the recently reinforced rhetoric of the President of the United States, Donald Trump, towards China due to the crisis in the crown had depressed the list. This had raised concerns that the trade dispute would boil again. In a document by Western intelligence agencies, China is also severely criticized for dealing with the crown crisis. Another trade conflict could put pressure on the world economy and decrease demand for crude oil, the trade said.

Meanwhile, gold was on the list (Gold 1703.75 0.19%) small moves to the $ 1700 per troy ounce mark.

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