(AWP / Reuters / SPU) Taking profit before the weekend weighed on the Swiss stock market on Friday. After the last two weeks' revival, the consolidation went well, traders said. Swiss Supermarket Index (SMI 9074.03 -0.23%) opened 0.4% lower and continued to build minus at midday. In the afternoon he reduced his losses back to the opening level. On Thursday, the leading index rose 0.5%.
The US Federal Reserve has left key interest rates unchanged as expected, but opened the door for a fourth rate hike this year but is open. On Wall Street, most stocks are more easily traded because of the prospect of tighter monetary policy. The three main indexes in New York experienced price declines at the close of Europe. The Dow Jones (Dow Jones 25,994.63 -0.75%) lost 0.7%. S & P 500 (SP500 2781.76 -0.89%) lost 0.9% and the Nasdaq Composite fell 1.5%.
Richemont weighs on the Swatch Group
At Richemont SMI it has (CFR 69.1 -6.37%) weak numbers delivered. Stocks fell sharply. Luxury goods producers have increased their net profit by more than 130% to € 2.253 billion in the first half of 2018/19. However, this included special profits of € 1.378 billion from the acquisition of Yoox Net-a-Porter Internet platform. Also rival Swatch Group shares (HOUR 322.4 -5.06%) give way significantly.
UBS (UBSG 14:12 -2.65%) also lost significantly. On the one hand, US courts have sued large banks for fake US mortgage fraud before the financial crisis, and on the other hand, the Paris prosecutor's office demands a € 3.7 billion fine because UBS helps French clients avoid taxes. Credit Suisse also recorded levies (CSGN 12985 -0.88%) and Julius Baer (BAER 45.48 -1.92%).
Paper about the heavyweight around Roche (ROG 251,35 0.86%) and Nestlé (NESN 85.4 00: 54%) prevented by their progress, the difference is greater than SMI. Also Novartis (NOVN 89.72 00: 43%) looks more friendly than the market as a whole.
On the broad market Kuros Biosciences fell (CYTN 3:35 -14,1%) at a further significant cost. On Thursday, biotech companies announced an increase in capital. Losses on Bobst are also clear (BOBNN 74.5 -6.41%). The reason: The transformation towards the printing of digital textiles caused high costs.
Also in the downwash is Aryzta (Aryn 1.3265 -5.65%) and Autoneum (AUTN 189,5 -4.77%). In Aryzta on Wednesday, trading in subscription rights for capital increases began. Meanwhile, for the auto parts industry, that is disturbing news given the weakening economy, the Chinese car market is threatened by a contract for the first time since the early 1990s. Orior (Oron 86.3 -2.6%) under pressure after the release of the Ernst Göhner Foundation (EGS) main shareholder.
The winners include Implenia (IMPN 56.6 0.8%). Construction companies have received orders for a bridge in Sweden which amounts to around CHF 60 million
Asia is weaker
In Asia, the stock market was negative on Friday. Japan's leading Nikkei 225 index loses 1.1%, topix broader 0.5%. In Hong Kong, the Hang Seng fell 2.4%, while China CSI 300 was 1.4% lower.
Slightly reduced, Korea Kospi lost -0.3% and Australia ASX 200, which only gave a little at -0.1%.
The dollar strengthened against the franc
The euro continues to trade below the $ 1.14 figure. The common currency costs $ 1.1351 at closing in Europe, slightly less. Compared to the Swiss franc, he also surrendered to CHF 1.1409. The dollar was steady against the franc, with a slightly lower one at 1.0050 Fr.
Oil prices are clearly lighter
Oil prices continued to decline after the recent decline. One barrel (159 liters) of North Sea Brent costs $ 70 at the close in Europe. In the meantime, prices have slumped below this highly regarded brand. The price of gold is also clearly weaker at $ 1210 per troy ounce.