Nervousness on the Swiss stock market remains high. Many investors are quite cautious, and US interest rate policy remains in focus.
Partners Group, the last survivor from SMI, will present its half-year results next Tuesday. The venture capital specialist from Baar came up with the first indicators at the beginning of July. According to analysts, there should not be any major surprises. In light of the very manageable weighting, it is unlikely that the shares in Partners Group will move the broad market much, even if the price fluctuates significantly.
After 31 second- and third-tier companies reported results over the past five trading days, next week there will be 13. Interest is focused on the figures from safety systems specialist Dormakaba, train builder Stadler Rail and media group TX Group. Stadler Rail invites to the investors’ day the day after the results are published.
On the economic side, retail sales for July and the national consumer price index, the purchasing manager index and Kof’s economic barometer for August are rounding out this week. However, news from the US economy will continue to be decisive for the development of local share prices. The SMI closed down 1.10% on Friday at 10,942.16 points.
The following titles from SPI are among the week’s FuW winners from Monday August 22nd to Friday August 26th. August:
1. Scan 19.1% (weekly performance)
The pharmaceutical insulator market leader presented a mixed interim report this week. Beyond this year, however, the outlook is rosy. The trend in the pharmaceutical sector towards more injectable drugs and cell and gene therapies continues. In the medium term, demand for medical insulators will continue to grow at double-digit percentage rates – and Skan will most likely outperform the market. FuW believes that if the company manages to manage growth and keep costs under control, there will be no shortage of success.
2. EFG 8.5%
EFG International’s shares have been rising for some time. Up around 20% since the beginning of the year, they are among the best performing Swiss titles. This week they even marked a new high for the year. For a long time, market participants wondered about the reasons for the price increase. But now the cause seems to have been found. EFG may be closing ranks with rival J. Safra Sarasin, as the internet portal “Finews” has written. Former Julius Baer boss Boris Collardi bought EFG for CHF 80 million. And he certainly did not come to maintain the status quo, it says. It is not yet known whether there will be a merger between the two banks, each of which is run by a family.
3. Aevis 4.4%
As it was announced on Wednesday, the hospital and luxury hotel group made a jump in sales in the first half of the year. This is due to several acquisitions within the hotel and hospital sector and recovery of the hotel business. Aevis Victoria published the full half-year report on September 16 – investors already grabbed the shares this week.
4. Bachem 3.5%
The pharmaceutical contract manufacturer reported declining sales and lower profits for the first half of the year on Thursday. This pushed the securities clearly into the red at the start of trading. Confident statements from management regarding profitability for the year as a whole allowed the share price to shoot back into positive territory. The shares remain highly valued with an estimated price-to-earnings ratio of 35. In an environment of rising interest rates, there is further potential for pullback. But investors should still take a long-term approach to a growth stock like Bachem. The gradual building up of a position could be worthwhile, analyzes FuW.
5. VP Bank 3.3%
Before last week, the private bank from Liechtenstein only just met the market’s expectations with its half-year figures. As part of “Strategy 2026”, CEO Paul Arni wants to invest in IT and the expansion of the Asian and European business. These costs are likely to have a negative impact on profitability given the continued volatility in earnings. It is not possible to predict when the strategic measures will bear fruit financially. Although FuW does not currently recommend buying VP Bank shares and there is no significant company news, risk-averse investors grabbed it this week.