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+++ Exchange Ticker +++ – Swiss investors on the retreat News

Monday, September 4th, 2017 | Economy

The nuclear test in North Korea had considerably dampened investor confidence. The government bonds, the Swiss franc and gold, were therefore on the market.
The investor's nervousness had increased slightly, said a trader – but they were not very worried. "We are far from panic sales, but people are just cautious." The market's fear barometer, the volatility index, rose by seven percent to 13.8 points. "But we are a lot more than the 18-point mark, which we reached in the middle of August," said a Börsian.
The SMI lost 0.75 percent to 8875 points by noon. On Friday, the leading index had risen by 0.2 percent.
Investors focused on Novartis shares. The heavyweight papers lost almost one percent. At the head of the pharmaceutical group, there is a change. Chief Joseph Jimenez hands the baton to Vasant Narasimhan at the beginning of 2018 after eight years.
Clariant's cyclical companies reported cyclical growth of 0.5 percent. According to a report by the "SonntagsZeitung", the shareholder group White Tale, which opposes the merger of the chemical company with its competitor Huntsman, is striving to cut Clariant.
Read the full lunch report here.
In addition, sinking prices – the SMI is easing its loss from stock market start in the morning trade and stands at 10.30 clock 0.8 per cent in the minus at 8870 points.

The Swiss stock market reacts with taxes on the new nuclear bomb test on the weekend. The SMI slips again below 8900 points. The Swiss Market Index (SMI) is trading at a low of 0.6 percent at 8886 points. The military threats are likely to cause uncertainty among investors. The demonstration of military impact by South Korea with a simulated attack on the northern neighbors' nuclear ground and the threat of a "massive military response" by US Secretary of Defense James Mattis have not yet indicated de-escalation.
The Novartis papers react with a minus of 0.4 per cent on the announced change on the head office. The two other heavyweights Roche (-0.6 percent) and Nestle (-0.8 percent) are of similar size.
Novartis Appoints Vasant Narasimhan To Succeed Joseph Jimenez As CEO In 2018 https://t.co/nt1JeOehn3 pic.twitter.com/sTOo9Cc54x
– RTTNews Top Stories (@RTTNews) September 4, 2017

Cyclists, insurance stocks and banks suffer more from the subdued market mood. On the broad market Helvetia (-1.1 percent) can not escape this with positive figures for the half-year. The Group has cut off expectations and earned more than a year ago.
The insurance companies Bâloise, Zurich (-1.1 percent), Swiss Re (-0.8 percent) and Swiss Life (-1 percent) also tend to deepen. Also noticeable are the depreciations for UBS (-0.6 percent) and CS (-0.9 percent). Also important cyclists such as ABB (-0.7 percent), Adecco, LafargeHolcim or Lonza show up in the early trade burdened. At Givaudan (+0.2 percent), Société Générale has raised the rating and price target, while HSBC sees a higher price target for Zurich (-0.5 percent).
Meanwhile, the stock markets in Asia are closed. The Japanese lead index Nikkei slipped 0.9 percent to 19,508.25 points. The broader topix index declined by one percent. The selection index in South Korea lost 1.2 percent to 2330 counts. Also the currency of the country, the Won, came under pressure and gave way to the dollar clearly.
The government in South Korea responded with a military exercise to the nuclear test of the neighboring state of North Korea. During the course of the day, the UN Security Council was to meet for a special session. In addition, US President Donald Trump is considering the abolition of trade relations with all states that deal with North Korea. "A trade war between the US and China would be a nightmare scenario for the stock market," said portfolio manager Thomas Altmann from QC Partners.
The geopolitical tensions around North Korea strengthen the Swiss franc. The euro-franc exchange rate drops by 0.3 percent to currently 1.1404. To the dollar, the appreciation is even greater. The dollar-franc exchange rate is trading at 0.958 (-0.7 percent).
According to the pre-market data of Bank Julius Baer, ​​the Swiss Market Index (SMI) will trade 0.4 percent lower on Monday at 8911 points. On Friday, the lead index went up by 0.2 percent. The announcement of the morning is the resignation of Novartis CEO Joseph Jimenez as of the end of January 2018. The Novartis share loses 0.4 percent before trading.
At the same time, the North Korean conflict is once again the focus of the exchanges. Asian stocks were also under pressure after North Korea tested an atomic bomb at the weekend. Among the SMI indices, ABB, Adecco, Credit Suisse and UBS (all -0.5 percent) record the largest losses.
Investors were looking for safe investment opportunities on Monday and grabbed gold, which rose by 0.7 percent to 1334 dollars per ounce (31.1 grams). The Swiss franc, the Japanese yen and German government bonds were also in demand. Börsians expected a comparatively quiet trade, since Wall Street is closed for a holiday.
Markets start the week in risk-off as geopolitical tensions worsen. Asia stocks fall, Yen, Franc and Gold jumps after N Korea bomb test pic.twitter.com/d19pt9pPQb
– Holger Zschaepitz (@Schuldensuehner) September 4, 2017

For fear of a North Korean war, investors cover gold with the "anti-crisis currency" on Monday. The price of the precious metal rises by 0.9 percent to a ten-month high of 1336.88 dollars per ounce (31.1 grams).
The oil prices started on Monday with no clear direction in the new trading week. The market was talking about missing impulses. A barrel (159 liters) of the North Sea Brent for delivery in October cost 52.52 USD on Monday morning. That was 23 cents less than on Friday. The price of a barrel of the American variety West Texas Intermediate (WTI), on the other hand, rose by 15 cents to 47.44 dollars. The petrol prices in the USA, which had risen significantly since the storm surge in Texas, decreased somewhat. Experts said that some American refineries in the Gulf of Mexico had announced their resumption of operations. This indicates a higher offer.
CEO changes to the Swiss stock exchange Novartis: CEO Joseph Jimenez retires at the end of January 2018. His successor is to be Vasant Narasimhan. You'll find more about it here.
The Nikkei in Japan and the Kospi in South Korea gave way in early trading. Experts said, however, of limited losses: the traders last month were repeatedly overreported to news from North Korea and were punished for it, explained Nicholas Young of Conventus Capital. The market seems therefore to be desensitized, especially without "a real reaction of the USA". Westpac's Sean Callow, the currency-strategist, agreed. "This year, it was not a successful strategy to start from the worst case on the Korean peninsula," he said.
The Nikkei index, comprising 225 values, was 0.9% lower at 19'508 points, around an hour before trading. The broader topix index also fell by 0.7 percent to 1608 points. The South Korean Kopsi Index lost nearly 0.9 percent. The MSCI index for Asian equities outside Japan fell by 0.5 percent.
One euro was valued at $ 1.1880 after $ 1.1857 last in the US. The dollar traded at 109.78 yen after 110.25 yen.
Top investor with 30 per cent in cash expecting a "deeper-than-expected" correction in stocks https://t.co/cMlS16pYV3 pic.twitter.com/zbvkDvhoUy
– Bloomberg Markets (@markets) September 4, 2017

(Cash / Reuters / AWP)


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