The winner among Swiss stocks is easy to find this week. On Wednesday alone, the titles of Temenos shot up over 8 percent. The trigger for the price jump of the banking software manufacturer were takeover rumors. According to a report by the Bloomberg news agency, the Swedish investment firm EQT is said to have an interest in Temenos. “Where there’s smoke, there’s fire,” explained one trader. Another noted, however, that this is not the first time such rumors have been passed around. The weekly plus amounts to around 18 percent.
Tops and flops of the week in the SMI
Swiss Re looks like a second winner of the week. The reinsurer’s share rose in the run-up to the published figures and can also add a few percent on the reporting day (Friday). Overall, the weekly plus amounts to around 8 percent.
Swiss Re made even the biggest optimists look pale in terms of third-quarter earnings this morning. The chances of another generous dividend payment are good. The share is still trading well below its pre-Corona level.
But other financial stocks such as UBS (+ 3.9%), Swiss Life (+ 3%), Zurich Insurance (+ 2%) are in demand this week. UBS presented its best quarterly result in six years on Tuesday. In addition, the largest Swiss bank in the USA, where the asset manager has so far mainly focused on the rich and super-rich, wants to enter the mass business with a digital offer.
Tops and flops of the week in the SPI
Status: Friday noon, source: Bloomberg
The week is much worse for the former stock market high-flyer Logitech – again. After the computer accessories maker released its second quarter update on Tuesday, stocks went downhill. Traders were sometimes astonished at the negative price development, as good figures were presented.
“I would not be surprised if some price target increases would come here soon,” said one trader. However, some complained that the company did not increase its sales outlook (more on the reasons for the price decline here). On a weekly basis, the share loses around 8 percent.
Zur Rose’s titles also came under pressure again. Observers explain the price losses of up to 8 percent on a weekly basis with unconfirmed reports that the company had received a judicial injunction relating to the pricing of prescription drugs. So the back and forth with the share continues.
Atypical, because it is actually valued as a stable defensive stock, is the significant slide in the price of Swisscom shares (-7.5%). The largest Swiss telecom group presented business figures on Thursday, in which the profit figures exceeded market expectations.
However, the company slightly cut its sales targets for the current year. Such a thing is often punished on the stock exchange. In addition, the analysts were disappointed with the sales development of the Italian subsidiary Fastweb.
(With material from AWP and Reuters)