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The SMI index is down, driven by declines in Lonza and Roche, while Sunrise attracts attention. The dollar weakens against the franc amid reduced expectations for interest rate cuts, following comments from Fed Chairman Jerome Powell. Market jitters also stem from Robert Kennedy Jr.'s appointment as Secretary of Health and Human Services and a disappointing outlook from Applied Materials affecting tech investors.
US stock markets are reacting to inflation concerns, with the SMI declining and Lonza reaching a 14-week high. The dollar has strengthened against the yuan and Swiss franc, while the euro faces pressure from potential tariffs under the new Trump administration, which could exacerbate inflation and hinder interest rate cuts. With the Republican Party gaining a majority in the House, Trump's legislative agenda may advance with less opposition.
The Swiss stock market saw significant gains on Friday, with the SMI rising 1.48% to 11,967.20 points, despite ongoing caution due to upcoming US elections and Fed interest rate decisions. Banking stocks like Julius Baer and UBS led the recovery, while Kuros and Polypeptide surged on strong performances and analyst assessments. However, SoftwareOne faced further losses after a previous decline.
SNIPR BIOME ApS has initiated the first human clinical trial for SNIPR001, targeting E. coli colonization in healthy volunteers, set to begin in the first half of 2022. The global CRISPR technology market is projected to grow significantly, with North America leading in market share, driven by advancements in biomedical applications and increasing research activities.
Kivu Biosciences, a San Francisco biotech startup, has raised $92 million in a Series A funding round to develop advanced antibody-drug conjugates (ADCs) aimed at improving precision and stability while reducing side effects. The company plans to initiate its first clinical trial targeting solid tumors next year, utilizing proprietary technology from Synaffix to enhance drug delivery. Kivu's approach seeks to address the limitations of existing ADCs, focusing on a better benefit-to-risk ratio for cancer patients.
The Swiss stock market showed broad recovery at the week's end, with Lonza and Logitech seeing increased demand, while oil prices rose significantly. In China, the Caixin/S&P Global PMI for manufacturing improved in October, indicating a slow economic recovery, though challenges remain in the labor market and consumer demand. The Shanghai Stock Exchange rose 0.6%, reflecting positive sentiment among major companies.
The SMI closed higher, driven by gains in Nestlé, Lonza, and ABB, while Wall Street experienced a record chase. In Tokyo, the Nikkei index fell 0.6% amid pressure on technology stocks following a sales warning from ASML, with investors awaiting TSMC's quarterly report, expected to show a 42% profit increase. Major chipmakers like Tokyo Electron and Advantest saw significant losses as the market adjusted ahead of these announcements.
The Swiss Market Index (SMI) has turned positive after cutting its morning losses. However, major companies like Nestlé, VAT, and Givaudan are experiencing declines, while ABB and Lonza are in demand. The euro is trading at CHF 0.9406 and the dollar at CHF 0.8665, with a slight rise in oil prices.
The SMI closed higher, buoyed by Lonza's gains and falling oil prices, while the S&P 500 reached a new record. UBS shares have risen nearly 15% since September 10, driven by expectations of an interest rate cut and positive results from US competitors in investment banking, prompting investor optimism for the Swiss bank's upcoming interim report.
Lonza Group AG
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
stock market declines as interest rate cut hopes fade and new appointments unsettle investors
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USA
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NEW England Biolabs Inc.
Thermo Fisher Scientific Inc.
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BRA
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United States Dollar
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United States Dollar
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Nestlé S.A.
Lonza Group AG
ABB Ltd
TSMC
JPN
NLD
Maki Sawada
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