Swiss Market Ends On Upbeat Note

RTTNews | 57 gün önce

(RTTNews) - Swiss stocks closed on an upbeat note on Monday with investors reacting to an announcement from the White House that tariffs on imports of Chinese-made smartphones and some other electronics devices would not apply.

However, the rollback may end up being short-lived as President Donald Trump said these goods were simply being moved into a different tariff group or "bucket".

The benchmark SMI settled with a strong gain of 259.63 points or 2.31% at 11,499.46. The index touched a high of 11,552.98.

Logitech International climbed 6.6%. VAT Group, Partners Group, Roche Holding, Adecco and Novartis gained 3 to 3.5%.

Sandoz Group shares climbed nearly 3.5% after the company filed an antitrust lawsuit in the US against biotechnology company Amgen, accusing the latter of blocking competition from cost-effective biosimilar competitors for its Enbrel drug, including the Swiss pharmaceutical company's Erelzi, by using patent rights

UBS Group gained nearly 3%. SIG Group, Swiss Re and ABB climbed about 2.8%. Holcim, Kuehne + Nagel, Alcon and Sika closed higher by 2.4 to 2.6%.

Zurich Insurance, Straumann Holding, Swatch Group, Geberit, Swiss Life Holding, Lindt & Spruengli, Sonova, Schindler Ps, Lonza Group, Swisscom and Nestle also posted strong gains.

Clariant surged 3.75% on reports the specialty chemicals group is in talks with investment banks to explore strategies that could better align its valuation with business performance.

In economic news, Switzerland's producer and import prices continued to decline in March, though slightly, data from the Federal Statistical Office showed.

Producer and import prices dropped 0.1% year-on-year in March, the same pace as in the previous month. The price index has been falling since May 2023.

The producer price index showed an increase of 0.3%, while import prices dropped by 0.9%.

On a monthly basis, producer and import prices rose 0.1% in March after rising 0.3% in the prior month. The expected increase was 0.2%.

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 | 1s 36 dakika önce

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 | 1s 42 dakika önce

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 | 2s 23 dakika önce

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 | 3s 48 dakika önce

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 | 4s 4 dakika önce

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 | 5s 11 dakika önce

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 | 5s 47 dakika önce

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 | 8s 42 dakika önce

EURUSD	1.14235	GBPUSD	1.34955	AUDUSD	0.65225
USDJPY	144.845	USDCAD	1.36703	USDCHF	0.82216

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Swiss Market Ends On Upbeat Note