Delete the Swiss National Bank (SNB) announced unexpectedly to the coupling of the franc to the euro. At the end of the trading day was only the Swiss Exchange still firmly in negative territory.
The AEX closed 1.7 percent higher at 425.32 points and the MidCap rose 1.2 percent to 642.14 points . The leading indices in Frankfurt, London and Paris won between 1.7 and 2.4 percent, while the Swiss Market Index (SMI) lost 8.9 percent.
With the decision by the SNB to stop to aim for a minimum exchange rate of 1.20 francs per euro becomes the central bank analysts especially the Swiss economy.
Competitive
The franc was worth more tens of percent. This reduces the competitiveness of Swiss companies, who see their products more expensive on foreign markets.
” After the initial panic reaction it has increasingly become more like harbinger see the intervention of the Swiss central bank of the upcoming steps of the European Central Bank, ” said a trader.
The ECB announced later in the month, in all probability additional measures to combat the low inflation. The already wide policies of central banks made in recent years for a solid rise in equity markets.
Special Chemicals company DSM (minus 8.6 percent) was hit as one of the few companies outside Switzerland by the SNB grant decision. The company produces a significant portion of its vitamins in Switzerland, making the expensive franc threatens to hit profitability.
Swatch
On the Swiss exhibition, among others Swatch (minus 16.3 percent), Nestle (minus 6.2 percent), Roche (minus 8.6 percent) and Credit Suisse (minus 11 percent) hit hard
The Swedish clothing chain Hennes & amp.; Mauritz (H & amp; M) in Stockholm rose 1.4 percent, driven by strong sales in the month of December. Frankfurt won Beiersdorf 5.6 percent after better than expected sales figures of the German manufacturer of personal care products.
The euro was worth 1.1592 dollars against 1.1802 dollars at the end of the European stock market trading on Wednesday. A barrel of US oil was 0.8 percent lower at $ 48.09. Brent oil cost 0.3 percent lower at $ 48.57 a barrel
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