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+++ Exchange Ticker +++ – Swiss Exchange in reverse News

Friday, September 15th, 2017 | Economy

The lead index SMI posted a good 0.5 per cent on Friday and recorded at 9028 points. In the course of the week the index nevertheless gained in value.
In the coming weeks, the major central banks are expected to provide some kind of impulses: Fed investors hope that the US Fed will be able to reduce their pledged balance in the financial crisis. And in Europe, investors are eager to see when the ECB is taking the first concrete steps to get out of its loose monetary policy.
Firms from the second row saw the headlines: Santhera shares broke more than 50 percent in the meantime. In the course of the day, the decline in value fell to a good 46 per cent.
And Helvetia sank almost 2.3 percent. Raiffeisen has separated from its four percent stake in the insurance company.
A renewed North Korea rocket test and an attack in London have unsettled Europe's investors at the weekend. The Dax lost 0.2 percent on Friday to 12,518 points, the EuroStoxx50 dropped 0.3 percent to 3515 points.
Even a more expensive euro braked: after weaker than expected failed retail sales in the US, the Community currency clearly gained the upper hand against the US dollar and increased by more than half a US cent to 1.1977 dollars. The US stock exchanges, however, continued their record hunt in tripple steps.
The oil prices have changed little on Friday after the recent high-altitude flight. In the late afternoon a barrel (159 liters) of the North Sea Brent cost to delivery in November 55.63 US dollars. That was 16 cents more than on Thursday. The price for a barrel of the American variety West Texas Intermediate (WTI) for delivery in October fell by one cent to 49.88 dollars.
The Dow Jones rose 0.1 percent to 22,235 points. The Nasdaq technology market lost nearly 0.1 percent to 6425 and the S & P 500 was almost unchanged at 2495 points.
Retailers' revenues fell 0.2 percent in August. Particularly cars proved in August as a shopkeeper: Here, there was a minus of 1.6 percent. Possible causes of the burglary are the consequences of hurricane "Harvey", who had raged in parts of Texas.
Wall St. to open flat; unmoved by North Korea test, U.S. retail sales https://t.co/3JUtGUl6RM
– Reuters Business (@ReutersBiz) September 15, 2017
On the other hand, there was hardly any uncertainty about the new North Korea rocket test. "I believe the market will become less sensitive," said Scott Brown, the chief economist, Raymond James.
Empire State factory gauge stays near three-year high in September https://t.co/ZB40wMfTsy
– MarketWatch (@MarketWatch) September 15, 2017
Speculations on the rapid rate hikes of the Bank of England (BoE) have made the pound sterling the biggest leap in the market for almost six months. With $ 1.3615, the currency is as expensive as it was the last day after the Brexit referendum in June 2016.
The Swiss equities market continues to register with donations on Friday afternoon. The focus is still on the slump in Santhera shares. The Swiss Market Index (SMI) is 0.32% lower at 9'042.36 points at 12 noon. Taxes on the heavyweight Novartis (-0.7%) and Nestlé (-0.6%) are already attributable to the imminent capping of the weighting of large stocks in the SMI. Funds that map the index need to reduce their holdings, it says.
Largest losers are currently Baloise (-0.8%), Schindler (-0.8%) and Swiss Life (-0.7%). The Swiss Re (-0.6%) and Zurich (-0.5%), which were already weak on the Thursday and again deepened, completed the negative picture in the insurance industry. Geberit (-0.7%) also declined sharply. In the broad market, the Santhera shares plummeted massively after falling disappointing news to Raxone with roughly -37% to 44.80 CHF, even if it fell from the day-time at 29.10 CHF have recovered. The Pre-Advisory Committee of the European Medicines Agency has assessed the application for the extension of the appropriation to be negative. In the treatment of Duchenne muscular dystrophy (DMD), the study submitted did not show sufficient efficacy.
#Santhera with setback in Raxone's application. https://t.co/cjPYGpzFkm pic.twitter.com/gXkTsdD61o
– cash (@cashch) 15 September 2017
Read the full midday report on the SMI here.
Trading on the Santhera share is difficult on Friday. Brokers report that the trading of the stock is repeatedly suspended due to the high share prices and comparatively high volumes. The stock was last 43% in minus after opening with a discount of 58%.
The Committee on Medicinal Products for Human Use (CHMP) recommended that the European Medicines Agency (EMA) refuse authorization to use the Santhera key drug Raxone for the treatment of muscle wasting (DMD). The CHMP doubts the efficacy of the drug. Santhera wants to oppose the assessment. However, Stephan Sola of the broker Kepler Cheuvreux categorizes the chances of a success of the active substance for this indication as low.
Driven by the hopes of gaining approval in Europe, the Santhera titles had gained nearly 40 percent in the past twelve months. The EMA usually follows the recommendations of the CHMP. Raxone has been approved in Europe since 2015 for the treatment of a rare optic nerve disorder.
A media report about an explosion in a London subway station makes stock investors nervous. The FTSE expands its losses and records 0.4 percent in the minus at 7271 points.
The Swiss Market Index is trading at a lower rate of 904 points a few minutes after trading. While the US dollar guidance was again slightly positive, the Dow Jones index closed at a record high. Support came from the expectations of President Donald Trump's tax reform as well as the stronger oil price. Important US macro data will also be the focus for the weekend. With the SMI it could happen at noon with the great decay to movements. The expiring futures and options contracts on the so-called "Hexensabbat" often lead to strong fluctuations.
The shares of the Liestaler company Santhera are the most negative. The share loses 58 percent. Background: Santhera has to report a setback in its application for the marketing authorization for its product Raxone. The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMM) has issued a negative opinion on the type II extension for Raxone for the treatment of Duchenne muscular dystrophy (DMD). Santhera intends to lodge an objection to the judgment (here, cash forum users discuss the Santhera share).
#Santhera with setback in Raxone's application. https://t.co/cjPYGpzFkm pic.twitter.com/gXkTsdD61o
– cash (@cashch) 15 September 2017
At the banks, Julius Baer (+0.6 percent) clearly responded to a promotion by the HSBC on "Buy" of "Hold". The long-term strategy of the bank is slowly bearing fruit, it says. In the meantime, Credit Suisse (-0.4 percent) has cleared another legacy burden from the financial crisis and concluded a settlement with a US insurance company in the case of residential mortgage-backed securities (RMBS). This results in a pre-tax charge of $ 79.5 million in the third quarter. UBS (-0.6 percent) are slightly lower than the market average. Nestlé (-0.5 percent) has taken over a Lifestyle Kaffemarke in the USA.
In the broad market Helvetia (-2.6 percent) are clearly under pressure after the exit from Raiffeisen. The bank separates itself completely from its 4 per cent share of the insurance. Sulzer (-1.3 percent) strengthens the application systems segment with a purchase in the dental sector. The German transcodent is expected to generate sales of EUR 17 million in the current year.
Aevis Victoria (+0.2 percent) reported positive half-year figures. Revenue grew slightly, but profit was stronger. In the meantime, Myriad (-10 percent) has applied for the delisting from the SIX. The shares lost around 65 percent of their value during the year.
Oil prices fell slightly on Friday. Strong impulses remained in early trading. In the morning a barrel (159 liters) of the North Sea Brent cost to delivery in November 55.26 US dollar. That was 0.3 percent less than on Thursday. Despite the losses, oil prices are heading for their second consecutive week of price increases. One reason for this is the new forecasts of the International Energy Agency IEA and the Opec oil cartel, both of which are based on a stronger demand for oil. In addition, short-term demand in the US is also increasing, as the refineries in the Gulf of Mexico are starting again after the Harvey storm.
The Swiss Market Index is indexed 0.115 percent lower at 9057 points. Only two stocks are up, Julius Baer (0.84 percent) and Adecco (0.24 percent). The assets of the asset manager benefited from a purchase recommendation from the HSBC, which raised the share to "buy" from "hold".
Some investors are unsettled because of a new launch of a North Korean rocket, said Börsian on Friday. In addition, many investors were lagging behind in important economic areas because of the unclear development of the future monetary policy.
Nestle is the focus of attention in Switzerland. The Lebensmittelriese expands its coffee business with a purchase in the USA and accepts a majority stake in Blue Bottle Coffee at an unnamed price. The share was trading somewhat weaker. Credit Suisse can file a further dispute over US mortgage loans. The institute reached an agreement with the Massachusetts Mutual Life Insurance Company. In the course of this, the bank recorded charges of $ 79.5 million in the third quarter – in addition to the existing provisions for the dispute. The share was little modified.
The shares of the Helvetia insurance company, which fell 1.7 percent before the official start of trading, were under pressure. Raiffeisen is separated from its four percent stake and placed with institutional investors. The Zurich asset manager Mojmir Hlinka, by the way, expects a stand of the SMI of up to 9500 points by the end of the year:
The cash-exchange-talk of this week: #Aktien #Boersen #Geldanlage https://t.co/ozj73VB34g
– cash (@cashch) 15 September 2017
The Nikkei of the 225 leading stocks rose by 0.5 per cent to 19'903 points just before close of trading. Astellas Pharma accounted for 3.3% of the individual figures after a positive study of a cancer drug.
The reactions to the new rocket test were also limited in the other investment classes. So-called safe havens, in which investors postponed their funds in political crises, such as the Japanese yen, the Swiss franc, or the gold, were sought – but the prices were only slightly higher. The euro maintained itself in the Far Eastern trade to the dollar. The single European currency lastly cost $ 1,1907. The Swiss franc was trading at around 0.9363 francs per dollar and about 1.1472 francs per euro.
North Korea had again fired a rocket of several thousand kilometers range over Japan despite the tightening of the UN sanctions on Friday due to its recent nuclear weapons test. The rocket was flown 3700 kilometers after the start near the capital Pyongyang and then plunged into the Pacific Ocean, the South Korean General Staff announced on Friday.
As shown in Fig
– 台灣 蘋果 日報 Taiwan News (@TW_nextmedia) September 15, 2017
(Cash / AWP / Reuters)


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