Swiss Market Index Slips; Roche Shares Down
Swiss stocks slipped into negative territory on Tuesday, with the Swiss Market Index closing 0.17% lower, as hostilities between the US and Iran further intensified. "The return of the US blockade [on Iran] is much more impactful for markets than the previous suspension of the sanction waiver on Iranian oil. The Memorandum of Understanding is starting to look well and truly dead. The consensus says neither side wants an escalation - yet their recent moves tell a different story. Clearly, oil prices simply aren't high enough yet to compel Washington to push harder for de-escalation," analysts at ING said. "Developments in the Middle East have also seen European natural gas prices surging." On the economic front, the annual inflation rate in the US eased to 3.5% in June from 4.2% in the previous month, while the annual core inflation rate edged down to 2.6% from 2.9% earlier. Back home, Switzerland's producer and import price index declined by 0.3% month over month in June and by 2.1% on a yearly basis to 99.8 points, data from the Federal Statistical Office showed. In corporate news, Roche (RO.SW) launched a fully automated cobas hepatitis D virus test in countries accepting.
Swiss stocks slipped into negative territory on Tuesday, with the Swiss Market Index closing 0.17% lower, as hostilities between the US and Iran further intensified. "The return of the US blockade [on Iran] is much more impactful for markets than the previous suspension of the sanction waiver on Iranian oil.
The Memorandum of Understanding is starting to look well and truly dead.
The consensus says neither side wants an escalation - yet their recent moves tell a different story.
Clearly, oil prices simply aren't high enough yet to compel Washington to push harder for de-escalation," analysts at ING said. "Developments in the Middle East have also seen European natural gas prices surging." On the economic front, the annual inflation rate in the US eased to 3.5% in June from 4.2% in the previous month, while the annual core inflation rate edged down to 2.6% from 2.9% earlier.
Back home, Switzerland's producer and import price index declined by 0.3% month over month in June and by 2.1% on a yearly basis to 99.8 points, data from the Federal Statistical Office showed.
In corporate news, Roche (RO.SW) launched a fully automated cobas hepatitis D virus test in countries accepting.