Swiss Market Ends Marginally Down After Choppy Session

RTTNews | 650 dias atrás

(RTTNews) - The Switzerland stock market ended marginally down on Wednesday after a choppy session. Worries about inflation and slowing economic growth weighed on sentiment.

The benchmark SMI ended with a loss of 16.02 points or 0.14% at 11,090.22. The index once again moved in a very tight band. It touched a low of 11,068.00 and a high of 11,130.25 in the session.

Novartis and Nestle lost 0.71% and 0.6%, respectively. Swiss Life Holding and Logitech, both ended nearly 0.5% down.

Givaudan, Lonza Group and Sonova gained 0.65% to 0.7%. Geberit, UBS Group, Roche Holding and Swisscom posted modest gains.

In the Mid Price Index, Meyer Burger Tech dropped 4.7%. AMS drifted down 1.8%, while Schindler Holding and Georg Fischer ended lower by 0.8% and 0.7%, respectively.

Tecan Group, Clariant, Adecco, Bachem Holding, Flughafen Zurich, DocMorris, SIG Combibloc and Ems Chemie Holding gained 0.5 to 1%.

According to a report from the Swiss Economic Institute, Switzerland's leading KOF economic barometer fell to 91.1 in August 2023 from a downwardly revised 92.1 in the previous month.

A report from Credit Suisse & CFA Society Switzerland showed, the Swiss investors' sentiment dropped by 6 points from the prior month to reach a five-month low of -38.6 in August of 2023, marking the 18th consecutive negative reading. At the same time, the current conditions index sank by 16.6 points to +13.6.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 1h 55min atrás

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 2h 1min atrás

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 2h 41min atrás

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 4h 6min atrás

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 4h 22min atrás

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 5h 29min atrás

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 6h 6min atrás

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | 9h 0min atrás

EURUSD	1.1427	GBPUSD	1.34995	AUDUSD	0.65231
USDJPY	144.891	USDCAD	1.36731	USDCHF	0.82263

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Swiss Market Ends Marginally Down After Choppy Session