Trump assassination does not make big waves on Swiss stock market
Published: Monday, Jul 15th 2024, 10:20
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The Swiss stock market started the new trading week with slight losses on Monday. According to traders, there was a lack of strong momentum. The assassination attempt on former US President Donald Trump at the weekend, which had increased his chances of re-election, has not yet made any major waves on the markets either.
Should Trump win, the current stock rally would certainly receive more support than if Joe Biden were to win another election, said one trader. In general, a transition from a Democratic to a Republican president would be more positive for equities than a second term for the Democrat.
Overall, the market trend is now likely to be guided by the reporting season, according to one commentary. On the data side, the latest economic data from China in particular was rather mixed. Both GDP and retail sales in China were weaker than expected. "There are no signs of a sustained economic recovery and weak consumption in China in particular is putting the brakes on any attempts at recovery," commented one trader.
The leading SMI index lost 0.19 percent to 12,341.28 points at around 9.15 a.m. in Switzerland. The SLI, which comprises the 30 most important stocks, fell by 0.36 percent to 1995.37 points and the broader-based SPI by 0.22 percent to 16,380.12 points. In the SLI, winners and losers (13 each) were balanced, with four stocks remaining unchanged.
By far the biggest losses in Switzerland were recorded by the watch group Swatch (-10%), which presented its figures for the first half of the year in the morning. It was a difficult first half-year, as the consistently disappointing figures show. Analysts describe the figures as worse than feared.
In Germany, the DAX leading index lost 0.26% to 18,700 points by the end of the first hour of trading, while the MDax fell by 0.62% to 25,743 points. In the eurozone, the leading EuroStoxx index fell by 0.4 percent.
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