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+++ Stock ticker +++ – Interesting investors make Swiss investors cautious News

Thursday, September 14th, 2017 | Economy

After a trading day, the SMI made a very tight pace and closed 0.2% higher with 9071 points.
Swiss winners were slightly overcharged. Swiss Life's shares, however, lost 1.4 percent. The US authorities are pushing the life insurer for possible aid to tax evasion.
In the case of the luxury goods trolleys, the levies stopped. Swatch fell by one percent and Richemont by 1.3 percent. Although Richemont had returned to sales growth on Wednesday in the first five months of the month, investors fell off the shares.
Higher price gains were achieved by other economically sensitive companies, such as the electrical engineering group ABB, the Adecco personal intermediary and the cement producer LafargeHolcim. Creditors, Credit Suisse, UBS and Julius Baer also took advantage of the funds.
The detailed SMI Final Report can be found here.
On Wall Street, Dow Jones, Nasdaq and S & P 500 were down 0.3 percent on Thursday.
Interest rate speculation was triggered by new inflation data. Higher fuel prices, for example, drove US inflation upwards in August to 1.9% from 1.7%. The increase in the core rate, without taking into account the strongly fluctuating prices for gasoline and food, also surpassed the market expectations by 1.7 percent, but remained below the target of two percent.
Wall St. set to open lower as odds of rate
– Reuters Business (@ReutersBiz) September 14, 2017
"I do not think the Fed should raise interest rates in December, but it will do so," said Robert Pavlik, chief investment regulator of the Boston private wealth bank. Investors estimated the probability to be just under 51 percent. Before the inflation figures were announced, the ratio was around 41 percent.
On the stock market, the shares of Apple dropped 0.4 percent. According to Börsians, they suffered further from the disillusionment after the presentation of the new smartphone flagship iPhone X. Analysts criticized the high price of over 1000 euros and the late sales start. This makes Apple in the important Christmas business in the back meeting.
As a result of speculation on interest rate hikes in Great Britain and the USA, shareholders have retreated on Tuesday. The music played in the foreign exchange markets, where investors were mainly pound sterling. Dax and EuroStoxx50 recorded 0.3 and 0.1 percent lower. Wall Street also expected losses from brokerage. The SMI stands at 0.1 per cent.
Bank of England: Key interest rate remains at a record low – The Bank of England is sticking to its benchmark: It remains … https://t.co/zqtWlj9hj0
– HandelsblattFinances (@hb_finanzen) 14 September 2017
The oil prices on Thursday after initial losses turned into the plus and linked to the profits from the previous day. In the lunch trade, a barrel (159 liters) of the North Sea Brent for delivery in November cost 55.58 US dollars. That was 42 cents more than on Wednesday. The price for a barrel of the American variety West Texas Intermediate (WTI) for delivery in October rose by 38 cents to 49.68 dollars.
In the face of the uncertainties surrounding the development of the global economy, many investors remained at the side line. The SMI recorded slightly lower with 9049 points. On Wednesday, the lead index closed virtually unchanged. A series of surprisingly weak economic data aroused doubts about the strength of the upturn in China.
Swiss winners and losers were roughly equal to Swiss standards. Swiss Life lost 1.8 percent and is therefore the SMI's final light. In the case of the luxury goods trolleys, too, taxes remained. Swatch fell by 1 percent and Richemont by 1.5 percent.
All current SMI courses can be found here.
The trend of the stock exchanges is likely to influence US economic data. In the afternoon, investors are hoping to see whether the American central bank will announce the dismantling of their billion-strong securities holdings in the coming week, signaling the timing of the next rate hike. In addition, the Bank of England (BoE) announces its interest rate decision. It is doubtful whether the British central bank will signal an early increase, an analyst explains.
In the wake of falling steel prices, investors also make cash on other industrial metals. Copper is down 1.3 percent to $ 6468 per ton. Nickel and zinc each lose one percent to 11,240 and 2993 dollars.
The strong euro and weak economic data from China had a moderate impact on investor sentiment in Europe on Thursday. According to his latest earnings, the Eurozone's leading index, EuroStoxx 50, fell by 0.16 percent to 3'517.56 points by midday.
The French CAC-40 fell by 0.02 percent to 5'216.72 counts and the British FTSE 100 gained 0.04 percent to 7'382.56 points before the early afternoon afternoon, the Bank of England's benchmark interest rate decision.
For fear of a surplus, investors have withdrawn from the steel market on Thursday. At the Shanghai Stock Exchange, the price fell by three percent to 3831 yuan (584 dollars) per ton. The Chinese iron future even slipped by 5.8 percent to 510 yuan (78 dollars) per ton. Sales growth was driven by the rise in Chinese steel production to a record high of 74.59 million tonnes.
The franc is now moving and losing ground after the SNB's decision on the interest rate. In the meantime, one euro was costing 1.1529 francs after 1.663 francs before the decision was announced – and so much more than a month ago. The dollar also increased and cost CHF 0.9688 in the meantime, compared to 0.9363 francs before the decision.
In the morning trade of the Swiss stock exchange, the Swiss National Bank is focusing on its latest position assessment. The expected holding of the SNB on the previous interest rates did not move the local shares immediately after publication of the decision. However, the SNB now regards the franc as "overvalued" and no longer as "strongly overvalued" as before, pointing to the continued willingness to intervene on the foreign exchange market.
The Swiss franc reacted slightly to the euro against the euro with some ripples, but ultimately it barely changed against the time immediately before that at around 1.1460 CHF. The level of the US dollar as a whole also remained slightly unchanged at 0.9635 CHF.
The Swiss Market Index (SMI) is 0.1% higher at 9:59.
And so the top and flop shares in the SMI are at 10:45 am:

The euro gets some backwind and climbs 0.2 percent to 1.1909 dollars. ECB banker Jan Smets said at a conference that inflation in the euro area has apparently found a bottom.
The SMI fell by 0.03 percent to 9052 points. After five days with sharply rising prices and a sideways move on Wednesday, the consolidation phase is likely to continue for the time being. Although the US targets are positive, in Asia, the majority of shares are down. For the restraint there are among other things new economic data from China responsible. There are signs of a slower growth.
In view of the thin news situation on the corporate side, the attention of the investors is concentrated here on the latest management report of the Swiss National Bank. According to most experts, the central bank is likely to confirm its expansive monetary policy once more. After all, the "weakness of the Swiss franc", which had lasted for weeks, was not a sufficient reason for a change in the course of the trade. However, attention will be paid to the SNB's choice of words. Interest will also be a possible change to the SNB's economic outlook.
Swiss Life recorded a large contribution of 0.9%. The insurer has been contacted by the US judicial authority regarding crossborder business with US clients. In the US, complex life insurance companies, so-called insurance wrappers, are currently being investigated by the competent authorities as to whether they were used to circumvent tax obligations. Swiss Life itself writes in a communication that all insurance contracts have been registered and reported under US FATCA legislation.

Swiss Life in the face of US justice – via @NW_Zeitung #sda_nachrichten https://t.co/7BMgY8uAgD
– sda news (@sda_news) September 14, 2017

Swiss Re's (-0.7 percent) levies are also clearer – according to Warnings from the competitor Munich Re in connection with storm damage in the USA. High reinsurance losses could be expected there, which jeopardized the profit target for the current year, Munich Re said on the eve. On the other hand, Zurich (-0.2 percent) and Bâloise (-0.5 percent) are less affected.
Richemont (-1 percent) continue their downtrend following the losses of the previous day following the trading statement for the first five months, after various price increases and a withdrawal of the rating on "Hold" by Deutsche Bank. The decline in the share, despite generally positive commentary figures, was attributed the previous day to earnings after the strong run of the previous week.
The heavyweights Nestlé (+0.1 per cent), Roche (+0.3 per cent) and Novartis (-0.1 per cent) develop unevenly. The latter company has reported progress reports the subsidiary Sandoz with the biosimilar adulimumab.
Asia's markets have closed. In the stock markets there is the air from the recent recovery, among other things, due to weak economic data from China. The Japanese lead index Nikkei 225 after a three-day increase of 0.29 percent to 19,807.44 points.
But also on most other stock exchanges it went down slightly. On the other hand, the equity market in South Korea fell slightly, after no further intensification of the North Korean conflict.
The SMI drops by 0.1 percent to 9046 points before trading. Many investors continued to face uncertainty about the future monetary policy of large central banks, said traders. They also wanted to await the interest rate decision of the Swiss National Bank SNB, which it intends to announce in the morning. Experts expect no changes to the loose monetary policy.
Beyond this, Börsians are eagerly awaiting the expected afternoon data on inflation in the US. They are hoping to see whether the Fed will announce the dismantling of its billion-strong securities holdings next week, signaling the timing of the next rate hike.
The share price of Swiss Life (-1 percent) is the most pronounced. The US Department of Justice is investigating the business of insurance brokers ("Insurance Wrappers"), suspected of being used by wealthy individuals to tax evasion. The portfolio with US customers had in the past amounted to up to one billion Swiss francs and has shrunk to around 250 million Swiss francs.

Hurricane Harvey causes up to $ 30 billion in insured damages, according to German reinsurance giant Munich Re https://t.co/u7HNoEAw2r pic.twitter.com/z6mr2d5OLZ
– AFP news agency (@AFP) September 10, 2017

The Swiss Re (-0.5 percent) share is also down. Competitor Munich Re reported that the stalemate caused by Irma and Harvey in North America questioned the profit target. The rest of the titles tend to fall back slightly. The heavyweights Roche, Nestlé and Novartis are each about 0.05 percent.
The Tokyo Stock Exchange has put a breather on Thursday. The Nikkei of the 225 leading figures showed initially unchanged, but now recorded by 0.31 percent at 19'804 points. Support from the US market does not seem to be quite successful. On Wall Street, the big indices had reached record highs on Wednesday. They, however, only slightly increased.
The euro hardly moved in the Far Eastern trade to the dollar. The European single currency was last $ 1.1890. The US currency stagnated at 110.51 yen against the yen. The Swiss franc was trading at around 0.94647 francs per dollar and around 1.1456 francs per euro.
(Cash / AWP / Reuters)


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