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+++ Stock ticker +++ – SMI held at noon – Waiting before ECB decision News

Thursday, September 7th, 2017 | Economy

The Swiss Market Index (SMI) gained 0.03% at 11.50 am to 8'862.48 points. The 30-share Swiss Leader Index (SLI), which does not contain the largest weightings, is 0.05% higher at 1,412.47 points and the broad Swiss Performance Index (SPI) is up 0, 11% to 10,118.16 meters. Of the 30 most important stocks, 15 recorded in plus, 13 in minus and two (Nestlé, Roche) remain unchanged.
The banks can not build on the recovery from the late trading of the previous day. CS, Julius Baer (each -0.5%) and UBS (-0.2%) are among the largest losers.
Read the full lunch report here.
The Dax rises by 1.2 percent to 12'363 counts and is thus as high as last July 21. With the skipping of the 12,300 mark, charttechnical purchase signals were triggered, explained a dealer.
The price of crude oil from the Organization of Exporting Countries (Opec) has increased. The Opec Secretariat reported on Thursday that the basket price on Wednesday amounted to 51.88 US dollars per barrel (159 liters). That was $ 1.06 more than on Tuesday. Opec calculates its basket price based on the most important varieties of the cartel.
Oil stocks near four-week high as refining returns after Harvey @bensharps https://t.co/23N7UgtJe9 pic.twitter.com/2RdeNFvpQ5
– Bloomberg Markets (@markets) September 7, 2017
Eurozone continues on course for growth: The economy in the euro area remains on the up. In the second quarter, the gross domestic product (GDP) in the 19 countries of the currency area grew by 0.6 percent to the previous quarter.
Eurostat reported this on Thursday after a second estimate. Thus the first estimate was confirmed as expected by experts. GDP grew by 2.3 percent compared to the same quarter last year.
After a slight positive start, the SMI quickly turned into a narrow minus. Investors are lagging behind in the run-up to the ECB interest rate decision, says the company. The Swiss Market Index (SMI) loses 0.1% to 10'850 points by 10:30 am. The SPI yields 0.14 percent to 10'094 points.

Concrete news is only available for the blue chips from Aryzta (-1.6%). The bakery group has found a new financial chief with Frederic Pflanz. The manager comes from Maxinvest, the parent company of Tchibo and Beiersdorf. Aryzta has thus achieved a surprisingly high-caliber cast, writes ZKB.
The insurances are still in sight. Swiss Re (-0.7%), Baloise (-0.4%) and Zurich (-0.2%) all showed a slight downturn. In the US, "Harvey" threatens the next storm.
In the early afternoon, all eyes will be directed to the President of the ECB, Mario Draghi. It is not expected that bond purchases will be restricted. However, investors hoped to see when the entry into the exit from the ultralock monetary policy could take place.
On the eve of the day, US markets had defended easy gains in late trading. The emerging solution to the US budget ceiling supported the sentiment of investors across the Atlantic, and the indices were also up in Japan. On the other hand, in Europe and in Europe, investors are more likely to be hesitant in the run-up to the ECB's decision-making process. The North Korean crisis, on the other hand, has fallen into the background, but remains in the mind, according to trade.
In the early afternoon, all eyes will be directed to the President of the ECB, Mario Draghi. While it is not expected that borrowing will be diminished, it is hoped that the entry into the exit from the ultralock monetary policy might take place. The assessment of the central bank for economic growth and the development of inflation will also be considered.
After the stock market opening, the SMI is posting a plus (+0.04 percent) to reach 8863 points. However, the picture of the different courses is very mixed.
The insurers are still likely to remain in view. Swiss Re (-0.6 percent), Zurich (-0.2 percent) and Bâloise (-0.4 percent) showed a negative performance. In the US, "Harvey" threatens the next storm. The hurricane "Irma" has already reached the first Caribbean islands and caused great damage and demanded death sacrifices. The strongest hurricane ever measured could predict Florida on Sunday.

"Barbuda is literally rubble": Hurricane Irma has damaged 95% of all the buildings on the Caribbean island. Updates: https://t.co/VvwUAJX67L
– The New York Times (@nytimes) September 7, 2017

Helvetia (+0.6 per cent), on the other hand, can grow in the second-tier insurance sector. Here, Kepler Cheuvreux increased its price target to 640 (620) CHF and confirmed the valuation "Buy". The half-year figures had met the expectations and the outlook was positive, it is said.
LafargeHolcim (-0.5 percent) were downgraded by Barclays to "Underweight" from previously "Equal Weight". The price target is slightly reduced by one franc to 52 francs. The shares showed a good performance justified in terms of performance. The premium can only be sustained with a sustained dynamic. The price surge in some key markets, however, suggests a slowdown.
The shares of the heavyweights Roche (-0.04 percent), Novartis (+0.06 percent) and Nestlé (+0.2 percent) develop differently. Goldman Sachs has lowered the price target for the shares of the food group to 94 from CHF 95 and is holding the "buy" rating. From the investor seminar at the end of September, the analyst expects statements from the new management about the transformation plans.
In the broad market, Barry Callebaut (+0.8 percent) took over the Ingredients division of Gertrude Hawk, thereby expanding its specialty and decorating business. The deal contributes a sales volume of 13,000 tonnes with sales of around EUR 70m.
Aryzta (-1.9 per cent) is the only blue chip manufacturer. The bakery company has found a financial decision with Frederic Pflanz. The proposed company is thus taking another step in the right direction, according to the first analyst comments.
Meanwhile, the markets are closed in the Far East. A surprising agreement in the US budget and easing tensions in the North Korean crisis on Thursday encouraged the investors on the Asian exchanges. In Tokyo, the Nikkei index closed 0.2 percent higher at 19'396 counts. The broader topix index rose by 0.4 percent. In the Chinese stock market, however, the big indices were hardly stuck. In Seoul, however, investors took a deep breath, while the leading index gained over one percent. South Korea's President Moon Jae In said there will be no war on the peninsula. His Russian colleague Vladimir Putin sees in Washington the desire to defuse the North Korean conflict.
"Fears about North Korea have declined," said Gavin Parry, Marketing Director of Parry International Trading in Hong Kong. President Donald Trump and the congress on Wednesday agreed on an intermediate financing for the American federal government until December 15, thus avoiding a so-called "government shutdown". "The topic will catch up with the markets again this year, but it is off the table and we do not have to worry about it now," said Masahiro Ichikawa, market strategist at Sumitomo Mitsui Asset Management.
Tokyo: le Nikkei rebondit de 0.20 percent après 3 séances négatives https://t.co/m5Vm4u1OjE
– Zonebourse News (@ZonebourseNews) September 7, 2017
The Swiss Market Index is raised by 0.13 percent on a pre-market basis. The shares of the major banks UBS and Credit Suisse cut the best (0.2 percent plus). The ECB's meeting on this Thursday will be the focus of the exchange interest. Most Börsians reckon that the central bankers will continue their policy of taking a triple step towards a less expansive orientation. Concrete decisions to curb the flood were not expected. Draghi could prepare investors, however, traders said. The bond purchase program expires at the end of December. Many Börsians also reckoned with the fact that the strong euro topic is at Draghi's press conference (from 2.30 pm CEST).
The special chip and sensor company AMS is considering the procurement of fresh capital and has excluded the subscription right for a convertible bond of up to 4.1 percent of the capital. The details of the private placement were planned by the specialist chip company for September 8th. The financial investor Martin Ebner and his wife have their stake in the software company Myriad aufgestockt and control since 1 September 61.4 percent of the shares.
On the Wall Street, the European stock market closed slightly on Wednesday, with all three major indices – the Dow Jones, the Nasdaq and the S & P 500 – traded at 0.3 per cent. The rates were supported by the US Federal Reserve's economic report and the provisional deficit of the US budgetary dispute.
The oil prices on Thursday in the early trade easily yielded. In the morning a barrel (159 liters) of the North Sea Brent for delivery in October cost 54.03 USD. That was 17 cents less than on Wednesday.
The stock market in Tokyo has responded on Thursday to the agreement in the US budget debate with price gains. In addition, the outlook on progress in the planned tax reform of US President Donald Trump raised the mood, explained experts. "Fears about North Korea have declined," said Gavin Parry, Marketing Director of Parry International Trading. "In addition, there is some light at the end of the tunnel when Trump talks about the control reform." According to US Treasury Secretary Steven Mnuchin, corresponding proposals will be presented to Congress this month.
The 225 Nikkei index was 0.4 percent higher at 19,430 points. The broader topix index rose 0.6 percent to 1601 points.
The stock market in Shanghai was down 0.3 percent. The index of major companies in Shanghai and Shenzen lost 0.1 percent. The MSCI index for Asian equities outside Japan rose by 0.5 percent.
(Cash / AWP / Reuters)


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