9 October 2015 – Weekly Swiss and global market roundup.
Brought to you by Investec Switzerland.
Swiss market news
SMI hit by Hillary Clinton’s drug pledge
The Swiss Market Index (SMI) is set to finish the week positively, following Global markets higher as stocks rally on news that the Federal Reserve may keep rates lower for longer than expected. It did however underperform global stocks this week after healthcare giants Roche and Novartis sold off with biotech firm Actelion after Democratic presidential front-runner Hillary Rodham Clinton reaffirmed her pledge to stop “price gouging” in the drug industry…. Read more.
Swiss company news
Clooney to promote coffee in war-torn South Sudan
Nespresso, the world’s biggest single-serve coffee brand, will start selling coffee from South Sudan, in an effort proposed by George Clooney to help rebuild an industry that nearly disappeared during decades of civil war. By Corinne Gretler (Bloomberg). Read more.
Richemont says gain from Yoox merger will boost full-year profit
Cie. Financiere Richemont SA said full-year profit will be boosted by an accounting gain of 610 million euros ($685 million) to 670 million euros after the completion of the merger of its Net-a-Porter Internet unit with Yoox SpA. By Corinne Gretler (Bloomberg. Read more.