In the wake of Wall Street Swiss stock market rises after Trump takes office

The Swiss stock market closed on a positive note on Tuesday. After a subdued first half of the session, equities gained momentum in the afternoon in the wake of a friendly Wall Street.

Keystone-SDA

21.01.2025, 18:24

SDA

Prior to this, the new US President Donald Trump had issued a whole series of decrees and held out the prospect of the first tariffs from Canada and Mexico. However, if Trump pushes through his agenda, this will have a significant economic impact, economists warned. "At the moment, the stock markets are still ignoring the Trump agenda," said stock market analysts.

The SMI closed 0.6 percent higher at 12,111 points. Other European indices such as the DAX in Frankfurt (+0.2 percent) and the CAC 40 in Paris (+0.5 percent) also closed with gains. In the USA, the Dow Jones advanced by 0.9 percent.

In Switzerland, medical technology stocks - Straumann (+2.5 percent), Alcon (+1.9 percent) and Sonova (+1.6 percent) - led the blue chips, which have already performed well this year.

The shares of luxury goods group Richemont (+1.2 percent) continued to benefit from the figures presented last week. Swatch shares gained 1.3 percent in the wake; traders expect the watchmaker to present figures these days.

Partners Group shares gained 1.1 percent. Traders pointed to the recent easing of long-term US interest rates and hopes that venture capitalists in the US will find a more favorable environment under the new administration. UBS shares (-0.7 percent) showed profit-taking after the recent rise.

Disappointed Bitcoin investors

As usual, Bitcoin experienced greater volatility. After reaching new records before Trump's inauguration, it initially fell. By the time of reporting, the largest cryptocurrency had recovered to 105,200 dollars.

This was because Trump had always flirted with the industry throughout his election campaign and ignored the topic in his first presidential speeches. Bitcoin was also not considered in his flood of decrees. Yet Trump had promised to loosen the regulations for cryptocurrencies. He had also spoken out in favor of a national Bitcoin reserve for the USA