Swiss Market Ends On Weak Note

RTTNews | 261 dagar sedan

(RTTNews) - After a weak start and a subsequent long spell in negative territory, the Switzerland market briefly moved above the flat line around mid afternoon on Tuesday, but retreated soon and finally ended the day's session with a moderate loss.

The mood was a bit bearish after U.S. President-elect Donald Trump stated on social media that he would impose tariffs on all imports from Mexico, Canada and China immediately after taking office in January 2025.

The benchmark SMI closed down 45.71 points or 0.39% at 11,632.88, after scaling a low of 11,590.67 and a high of 11,690.90 intraday.

UBS Group closed down 2.1%, weighed down by a Reuters report that the lender's Chinese joint venture partner Beijing State-owned Asset Management is auctioning off its 33% stake in UBS Securities for 1.5 billion yuan. The sale potentially paves the way for the Swiss banking group to take full control of the joint venture, in which it owns a 67% interest.

Schindler Ps and SIG Group lost about 2% and 1.9%, respectively. Holcim closed down 1.51%, while Sika, Lindt & Spruengli, VAT Group, Swisscom, ABB, Geberit, Roche Holding, Swiss Life Holding and Sandoz Group ended lower by 0.8 to 1.1%.

Sonova, Adecco, Julius Baer, Givaudan and Straumann Holding also closed weak.

Alcon climbed about 1.8%. Richemont advanced nearly 1%, and Lonza Group gained 0.84%.

Trump said he would impose 25% tariff on all products from Mexico and Canada on his first day in office, blaming the countries for the influx of illegal immigrants and illicit drugs into the U.S.

"This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!" Trump said.

Trump said in a subsequent post that he would also impose an additional 10% tariff on Chinese products, claiming the country has not done enough to stop the "massive amounts of drugs, in particular Fentanyl, being sent into the United States."

Canadian Market Remains In Negative Territory After Weak Start

The Canadian market, which opened on a weak note Thursday morning, continues to languish in negative territory well past noon, weighed down by losses in technology and industrials sectors.

RTTNews | 4h 9minuter sedan

Swiss Market Ends Modestly Higher After Mild Struggle

The Switzerland market recovered after a flat start on Thursday, and after staying positive till well past noon, suffered a setback but regained some strength to eventually end the day's session modestly higher.

RTTNews | 4h 34minuter sedan

Major European Markets Close On Positive Note

Amid expectations of a rate cut from the Federal Reserve in September, and hopes the meeting between the Presidents of the U.S. and Russia will help end the war in Ukraine, the major European markets closed on a positive note on Thursday, although the U.K. market underperformed other major markets in the region.

RTTNews | 4h 50minuter sedan

U.S. Producer Price Growth Far Exceeds Estimates In July

Producer prices in the U.S. increased by much more than expected in the month of July, the Labor Department revealed in a report released on Thursday. The Labor Department said its producer price index for final demand shot up by 0.9 percent in July after coming in unchanged in June. Economists had expected producer prices to rise by 0.2 percent.

RTTNews | 7h 18minuter sedan

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 9th. The report said initial jobless claims dipped to 224,000, a decrease of 3,000 from the previous week's revised level of 227,000.

RTTNews | 7h 50minuter sedan

UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe

RTTNews | 8h 31minuter sedan

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.

RTTNews | 9h 2minuter sedan

S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Global Ratings upgraded India's sovereign ratings on Thursday citing a buoyant economic growth, enhanced monetary policy conditions and the government's fiscal consolidation commitment, while the higher tariffs from the U.S. administration is estimated to have only limited impact on the economy. India's sovereign credit ratings were raised to 'BBB' from 'BBB-', with a 'stable' outlook.

RTTNews | 9h 6minuter sedan

EURUSD	1.16503	GBPUSD	1.3526	AUDUSD	0.6498
USDJPY	147.756	USDCAD	1.3815	USDCHF	0.80731