20 November 2015 – Weekly Swiss and global market roundup.
Brought to you by Investec Switzerland.
The SMI rallied this week to outperform global stocks with Swiss companies benefitting from a weaker Swiss franc. Stock markets across the world are also set to end the week higher despite last week’s terror attack in Paris. Equities did however sell off on Monday as Investors responded to Europe’s deadliest attack in a decade but swiftly recovered towards mid-week.
Investor sentiment received a boost on Thursday after the release of minutes from the US Federal Reserve’s October meeting. The minutes showed that US policy makers have faith in the world’s largest economy and stressed the pace of any interest rate increases will be gradual.
In Swiss economic news, a report showed that exports fell 4.7% in October to 18.8b francs from the same month a year earlier. However, the fall was blamed on a shorter working year in 2015 and not a significant drop in trade.
In company news, Syngenta made headlines this week on news that Monsanto is considering another take over-bid after state-owned China National Chemical Corp made an offer to acquire the world’s largest pesticide maker last Friday. The week’s worst performers were luxury goods makers Richemont and Swatch after a report showed that Swiss watch exports declined the most in six years in October, led by a slump in shipments to Hong Kong, the industry’s largest market.