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+++ Stock ticker +++ – Hurricane burdens are on the brink of investors – Wall Street in minus News

Friday, September 8th, 2017 | Economy

The Dow Jones index of the standard values ‚Äč‚Äčopened with a minus of 0.2 percent at 21,741 points. The broader S & P 500 also lost 0.2 percent to 2459 counts. The Nasdaq technology index dropped 0.1 percent to 6390.
Among the individual values, Kroger was the focus. The shares fell by more than five percent. The supermarket chain has earned less because of strong price reductions.
The oil prices have tipped disparately on Friday. At noon a barrel (159 liters) of the North Sea Brent for delivery in November cost 54.80 US dollars. That was 31 cents more than on Thursday. The price for a barrel of the American variety West Texas Intermediate (WTI) for delivery in October, however, fell by 15 cents to 48.93 dollars.
The price of the euro has continued to rise. The European Community currency stood at 1.2066 US dollars at noon. Previously, it had reached the highest level since January 2015 at 1.2092 dollars. On Thursday, ECB President Mario Draghi expressed his critical assessment of the strength of the euro. At the same time, however, he provided signals for an early exit plan to the securities purchase program for buoyancy in the euro.
The euro also rose to CHF and climbed again above the CHF 1.14 mark. On Friday-noon the common currency costs 1.1412 CHF. The US dollar also posted slight gains against the Swiss franc against the morning trade. At noon it will cost 0.9458 CHF.
The Swiss stock exchange recovered from a weaker opening on Friday until noon. Parallel to the dollar, which was able to free itself from the lows, share prices also picked up somewhat. The SMI recorded an increase of 0.1 percent. Initially, the lead index had fallen to 8878 counts.
"A weekend ago, when one does not know whether North Korea does not carry out a bomb test again to celebrate Independence Day and how strong the Irma whirlwind in the South of the USA still rages, one wants to keep the risks low," said a dealer.
Company impulses are rare and no important economic figures are released, said traders. The strongest impetus would therefore come from the foreign exchange market: the dollar temporarily fell to the franc to its lowest level in two years. A strong franc affects the competitiveness of Swiss companies on the world market, as their goods are becoming more expensive compared to foreign competitors.
#Dollar as weak as last two years ago. #Franken #USDCHF EURUSD #Frankenkurs #Greenbackhttps: //t.co/sZh9bkESa6 pic.twitter.com/urpgNGVypR
– cash (@cashch) September 8, 2017
Because of the prospect of an approaching throttling of the ECB's bond purchases, investors are separated from European papers. This drives the return on ten-year stocks from Germany, Italy, Spain and Portugal to 0.324 percent, 1.954 percent, 1.549 percent and 2.794 percent. According to the insiders, the Governing Council discussed several scenarios of so-called "tapering".
Furthermore slight minus in the SMI. These are the top and flop shares:

A negative analyst commentary weighs on Peugeot. The titles fall in Paris by up to three percent to 18.05 euros after Exane BNP downgraded them to "underperform" from "neutral". The environment for the Autobauer is getting harder, VW attack in the for the French with the most profitable market for smaller off-road vehicles (B-SUVs), the bank justified their judgment.
Strong export figures from China have pushed the national currency of Yuan to the highest level in 21 months on Friday. The People's Bank of China (PBoC) lowered the dollar reference rate, which the Chinese currency can only surpass or fall below in a certain margin, by 0.4 per cent to 6.5032 yuan. As a result, the US currency on the stock exchange fell by 0.4 percent to 6.46 yuan.
After the SMI had made over 8'900 points the day before, it fell back to 8,888 points on Friday. The minus is 0.2 percent. There is a rather quiet last trading day of the week. There is no clear impetus from Wall Street. China's export engine has weakened slightly more than expected in August. Caution also prevails because of the smoldering North Korean crisis and the hurricane "Irma". This is now raging in the Caribbean, makes islands uninhabitable and tore several people to death.
Exception in the fairly "flat" trade of the SMI shares form LafargeHolcim. The title is most pronounced in the SMI (0.8 percent). Swiss Life, Swatch and Credit Suisse also have slight advances.
Citigroup has raised the rating of Zurich (share minus 0.1 percent) to "buy" from previously "neutral" and significantly increased its price target to 321.20 from 274.00 Swiss francs. The insurer profits from a strong cash generation with a low volatility, it says. In addition, Zurich is sufficiently diversified to be immune to individual insurance cycles. Recent progress is encouraging.
However, uncertainty remains the cyclical "Irma" for the insurance industry, especially for Swiss Re (-0.9 percent, at the same time the weakest SMI share on Friday). Because of fears that the storm that is raging will cause massive damage in Florida and affect the economy, some US insurers were under massive pressure the day before.
No support is provided by the SMI's heavyweight pharmaceuticals Roche (-0.2 percent) and Novartis (-0.3 percent). In the run-up to the Esmo Congress, which is taking place on the (today) Friday, Roche has provided positive data on a blood-based test to determine the so-called tumor mutation burden. And Novartis presented positive phase II data on the AMG 334 Migrator, presented at an industry conference in Canada.
Roche blood test could help 'personalize' cancer immunotherapy https://t.co/Ozb2J5KlgQ pic.twitter.com/2SI3htOtGa
– Reuters Tech News (@ReutersTech) September 8, 2017
According to pre-market indicators, the SMI is at least 0.07 percent higher on Friday. Only three stocks are up: Novartis and Roche (0.4 percent each) and Zurich (0.5 percent).
There were no directional impulses, said traders. In the USA, the price on the eve of the stock market closed hardly any more in Europe. "Company impulses are missing, so we will probably again act as currency traders," said a trader. The share prices are likely to be slowed down by the fact that the Swiss franc, which was important for the Swiss economy, fell to the Swiss franc at 0.9441 francs to its lowest level in around two years.
Roche has submitted data to a new biomarker blood test for cancer immunotherapies at the ESMO Cancer Medicine Congress in Madrid. The method was then used to determine the tumor mutational burden (TMB) with high accuracy. TMB, the number of mutations in the genome of cancer cells, is an indicator of the efficacy of immunotherapy and could only be determined by taking tumor tissue (biopsy).
According to Rivart Novartis, a preventive treatment with the active substance AMG 334 (erenumab) leads to a reduction of days per month, at which the patients suffer from migraine. This shows a new analysis of Phase II study data presented by the Pharmac group at a Vancouver conference.
Oil prices continued to rise on Friday. In the morning a barrel (159 liters) of the North Sea Brent cost to delivery in November 54,75 US dollars. That was 0.46 percent more than on Thursday.
ReutersBiz: Oil prices rise on sharp drop in U.S. production as hurricanes bite https://t.co/sXqGXiExhs
– Investing Insight (@InvestingLatest) September 8, 2017
The Nikkei Nikkei Index in Tokyo, which is 225, is trading at a lower rate of 0.43 points, down 19.323 points. The broader Topix index remained unchanged at 1598 points.
The internationally largely isolated Norkorea announced "powerful counter-measures" because of the efforts of the USA to implement new sanctions. "It is hard to buy stocks now," said the investment expert of a Japanese insurance company. Saturday is an important holiday in North Korea, according to experts, according to a new rocket test could be used.
The stock exchange in Shanghai was up 0.4 percent. The index of the main companies in Shanghai and Shenzen won 0.3 percent. The MSCI index for Asian equities outside Japan rose by 0.5 percent.
(Cash / Reuters / AWP)


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