Swiss Stock Market Continues To Bet On Trump

(MENAFN- Swissinfo) The Swiss stock market continued the gains of recent days on Wednesday. The Swiss Market Index (SMI) closed in positive territory for the 12th time this year and above the 12,200 mark for the first time since October 2024.

This content was published on January 23, 2025 - 09:00 2 minutes Keystone-SDA

• Deutsch de Schweizer Börse wettet weiter auf Trump Original Read more: Schweizer Börse wettet weiter auf Trum

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The reason for this was the perceived“spirit of optimism” in the US, according to the market. In recent weeks, there have been increasing signs that the economic strengths in the US clearly outweigh the weaknesses. Moreover, the risks have already been priced in, said one market observer.

The SMI closed 0.80% higher at 12,207.89 points. Other European indices such as the DAX in Frankfurt (+1.0%) and the CAC 40 in Paris (+0.9%) also rose. In the US, the Dow Jones was up in the early evening (+0.3%).

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Swiss engineering firm ABB (+3.7%) led the blue chips, benefiting from Trump's plans to speed up the approval process for oil, gas and electricity projects.

Pharmaceutical heavyweights provide support

The SMI heavyweights Roche (+1.3%) and Novartis (+0.4%), which will present their annual figures next week, were also driven by market sentiment.

“AI fantasy” brought the chip supplier VAT a price increase of 2.0%. The previous evening, US President Trump had announced a $500 billion (£453 billion) project for AI infrastructure.

Finally, investors also invested in the crisis-proof currency gold. In the early evening, the value of gold exceeded the CHF2,500 mark, reaching a new all-time high. Specifically, the price of gold stood at CHF2504.28.

Translated from German by DeepL/jdp

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