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Despite several limiting factors, the names of Nestlé, Novartis and Roche are growing considerably. The slowdown in economic growth in China is one of the least encouraging reports. In addition, the US Federal Reserve has made it clear that it will continue to raise its interest rates.
The shares of the two pharmaceutical companies Novartis and Roche increased significantly and made it possible to place the Leitbarometer SMI in the profit zone. (Image: Alexandra Wey / Keystone)
Sometimes you're not as smart about what's happening on the stock markets. The Swiss Market Index (SMI) finished the week up 2.4%, but the last few days have been quite difficult. With several poison darts of small and medium size, the markets had to do this, which could have resulted in a negative performance of the stock markets without notice. But not only in this country, but also on international trading platforms, stock prices have risen. A bit far, this should also be a backlash compared to the previous week, in which the stock markets had lost much ground.
China is losing momentum
The slowdown in economic growth in China is one of the least encouraging reports. Although this is mainly due to weaker dynamics in the industrial sector, the service sector, as desired by the local government, continues to grow. But there are also other warning signs such as falling car sales. Europe also received generally disappointing economic data, and the dispute between the Italian government and the EU began in the next round. The latter criticized the Rome budgets and demanded further declarations by Monday, which weighed on Italian stock and bond prices.
In addition, the US Federal Reserve has made it clear that it will continue to raise its interest rates. Finally, the trade conflict between the United States and China and the case surrounding the critic of the murdered Saudi regime, Jamal Khashoggi, weighed heavily on the financial markets.
The fact that the Swiss stock market performed so well despite everything was mainly due to its three heavyweights. Pharmaceuticals Novartis (+ 6.2%) and Roche (+ 4.0%), as well as the food manufacturer Nestlé (+ 4.1%), significantly increased their value and comfortably earned a profitability of the barometer. SMI index.
Low bank securities
In all three cases, rewarding quarterly figures led investors to make acquisitions and highlighted the many uncertainties. Among the weakest securities of the SMI were the banks. Julius Baer shares fell 1.3%, while Credit Suisse and UBS lost 2.0% each. UBS will release its quarterly results next week.
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