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Brexit-Chaos is pushing Swiss investors in the escape

On the Swiss stock exchange, have taken to the start of the week again, the pessimists, the scepter. The uncertainty around the Brexit, the unresolved trade dispute between the US and China and fears the US economy could lose momentum, vergraulten investors. The benchmark index, the SMI, fell by 2.17 percent to 8'551,02 points. That is the lowest level since the beginning of July, the distance to year is low, only around 180 points. "The mood is beat," said an equity strategist. "At the Moment it goes unchecked to the bottom."

A further decline is not excluded. Important stock market barometer such as the S&P 500 was still a good distance away from their year-lows. The uncertainty among investors was also reflected in the volatility index. The "fear barometer" shot ten percent.

For nervousness, in particular, the ongoing uncertainty caused on the framework conditions for the planned withdrawal of the UK from the European Union (EU). Prime Minister Theresa May suspended for Tuesday's planned vote in the house of Commons about the Brexit agreement with the EU.

in Addition, investors feared that the detention of a top Manager of the Chinese technology group Huawei could heat up in Canada, the America-China trade conflict. Some investors fear that the US could weaken the economy. Both of these factors had impacted the stock markets in the last week, and on Monday, the most important Wall Street once again went on a downward spiral.

High losses in the case of Novartis and Roche

In return, the Swiss franc gained in the past few days. The currency is in demand among investors in times of uncertainty, always. One Euro was last 1,1245 francs. In mid-November, there were 1,1430 francs.

On the market, the heavyweights weighed. The comparatively crisis-proof applicable to pharmaceutical companies Novartis and Roche lost the 2.4 or 1.4 percent of its value. At Roche, the head of the pharmaceuticals division Daniel O'day resigns, and moves to the post of CEO of the pharmaceutical company Gilead. His successor is the current head of the US subsidiary Genentech, William Anderson. For Novartis, Barclays has lowered its recommendation to "Underweight" from "Equal-Weight".

The share of food group Nestle fell by two percent. Market participants said the weakness of the SMI-giant, among other things, with technical factors. "The role of the Futures markets", said the equity strategist.

bear holds the red lantern

Under the wheels, in particular, banks and economy-sensitive values. The red light under the default values held in the private Bank Julius Baer at a discount of 4.2 per cent. Three percent or more in value of the luxury goods manufacturer Richemont and Swatch, the personnel service provider Adecco, the cement producer Lafarge, Holcim and the big Bank, UBS, lost. The shares of Credit Suisse fell temporarily to a low for the year and closed 2.5% weaker. According to a report in the "Sunday newspaper" wants to purchase the second-largest Swiss Bank at an investor day on Wednesday a billion-dollar stock buyback program and a dividend increase to announce.

On the broad market, the shares of Meyer Burger fell 18 percent. Credit Suisse has lowered the recommendation for the solar industry-suppliers to "Underperform" from "Neutral". Under pressure, the AMS-titles, with a Minus of 7.4 percent. Fears of a weaker demand for Chips for Smartphones also impacted shares of other European semiconductor manufacturers.

abroad go down

In Europe, contracted sharply, the DAX in Frankfurt and the CAC 40 in Paris of 1.5 percent. The FTSE on the London Stock Exchange was -0.8 percent comparatively well, the British pound, but fell against the Euro and Dollar by 1.5 percent. The Wall Street shows on Monday night is also down. The Dow was shortly after 18 hrs. at 23'937.98 points – a loss of 1.85 percent. At 21 o'clock he was again at 24.400.67 and just in the plus area (nlu/Reuters)

Created: 10.12.2018, at 18:16

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