SMIThe Swiss Market Index, along with other European markets, fluctuated this week as central bank decisions dominated the landscape. |
 Click to enlarge. |
Economic DataEquity markets advanced at the beginning of the week as chances of the Federal Reserve raising US interest rates later this month declined after a surprisingly weak report on the US service-sector earlier this week. The report followed data last week that showed cooling job growth in August and an unexpected pullback in monthly manufacturing activity. |
SMI vs. MSCI World Week September 09(see more posts on MSCI World Index, SMI Swiss Market Index, ) Click to enlarge. |
| On Thursday stocks declined from near record levels, bond yields rose and the euro strengthened after Mario Draghi said European Central Bank policy makers didn’t discuss an extension to their quantitative easing program although the governing council did say they expect to keep the key ECB interest rates at present lows for an extended period of time. |
SMI vs. MSCI World(see more posts on MSCI World Index, SMI Swiss Market Index, ) Click to enlarge. |
Swiss Economic DataIn Switzerland a report from the State Secretariat for Economic Affairs showed that economic momentum accelerated in the second quarter, hitting its fastest pace since 2014. Gross domestic product rose 0.6% in the three months through June after gaining a revised 0.3% in the prior quarter. According to the report, contributions to growth came from foreign trade and government consumption while household spending stagnated and investment in construction and equipment declined. |
 Click to enlarge. |
Swiss CompaniesIn company news, Zurich Insurance is amongst the SMI’s top performers this week after a broker stated that the company is well positioned to dominate the sustained period of very low interest rates in Europe. In other news, Syngenta Chief Executive Officer Erik Fyrwald continued a management reshuffle at the Swiss agrochemicals maker ahead of a planned takeover by China National Chemical Corp. The company announced two more executive changes coming just a day after the departure of the top finance chief. |
 Click to enlarge. |
Full story here Are you the author?
Tags: ECB,Federal Reserve,Mario Draghi,MSCI World Index,newslettersent,SMI Swiss Market Index,Zurich
