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Swiss markets fluctuate on earnings data

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SMI last Week

The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements.

Swiss markets fluctuate on earnings data

The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements. - Click to enlarge

Bonds

Global financial markets showed resilience this week following the failed coup attempt in Turkey over the weekend.  Second quarter earnings proved to be the main drive of sentiment with shares from Europe to the US fluctuating as investors watched earnings releases closely for evidence of stronger economic growth.

Swiss markets fluctuate on earnings data

The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements. - Click to enlarge

 Government bond yields rose this week after the European Central Bank kept policy changes on hold despite signaling that fresh stimulus was likely in the coming months if the economic environment continues to deteriorate.  The Bank of Japan and US Federal Reserve are due to release policy statements next week.

Swiss markets fluctuate on earnings data

The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements. - Click to enlarge

Switzerland Credit Suisse

In Switzerland the Credit Suisse ZEW indicator, which gauges financial analysts’ expectations for the domestic economy for the next six months, fell 13.5 points in July suggesting that financial experts no longer expect a speedy improvement for the Swiss economy. Analyst’s blamed the pro-Brexit vote in the UK for the negative outlook for the entire European region.

Swiss markets fluctuate on earnings data

The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements. - Click to enlarge

Swiss Company News

In company news, several Swiss companies published their second quarter earnings this week.  Roche and ABB surprised on the positive side, Novartis reported a mixed bag and Swatch, struggling with falling global sales, announced that operating profit declined 54% to 353 million francs.

Swiss markets fluctuate on earnings data

The Swiss Market Index is set to finish the week slightly higher as investors digest second quarter earnings reports and central bank policy announcements. - Click to enlarge

 

 

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