Home » Economy » +++ Stock ticker +++ – Swiss stock market weakens at week-end | News

+++ Stock ticker +++ – Swiss stock market weakens at week-end | News

Friday, September 8th, 2017 | Economy

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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