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ENNIO LEANZA
Consequently, its vaccine offers more than 90 percent protection against Covid-19 disease. As a result, the SMI soared to more than 10,600 points.
The last time it was traded higher in February. At around 1:25 p.m., the SMI gained 2.2 percent to 10,567 points. The SLI, which comprises the top 30 stocks and for which the weighting of heavyweights is significantly less constrained, gains just under 3 percent at 1,646 positions and the comprehensive SPI by 2.2 percent at 13,114 points.
In the morning, the stock markets had risen sharply in response to the outcome of the US presidential election. With Joe Biden’s victory, a significant element of uncertainty is removed. Cyclical and financial stocks particularly benefited from this.
All over Europe there is a fireworks display on the stock exchange. In Germany, for example, the advantage of 4.5 per cent to more than 13,000 points is even greater than in Switzerland. The SMI is much more defensive than the Dax. The leading euro zone index, EuroStoxx 50, is up 4.9 percent at 3,362.09 points and there is also a strong increase in Paris, London, Milan and Madrid.
The news is also causing movement on the currency front: both the euro and the dollar have gained against the franc. The exchange rate of the common European currency rose again above 1.07 francs to 1.0723 francs and the dollar jumped to the 0.90 mark. (SDA / bp)
