SMI Index Tops 12,500 for First Time Since 'Liberation Day'
The SMI index has broken a significant milestone today, climbing above the 12,500 point mark for the first time since April's 'Liberation Day'. As of 11:05 am, the SMI index stands at 12,512.65 points, just shy of its daily high of nearly 12,519 points, marking a 0.69 percent increase. This upward trend comes despite the ongoing US government shutdown, which has so far had little impact on the market. However, the cancellation of key economic data, such as the US jobs report, could potentially fuel macroeconomic uncertainty. The SLI, which tracks the 30 most significant stocks, has risen by 0.57 percent to 2025.60 points, while the broader SPI has increased by 0.61 percent to 17,222.06 points. Notable winners include Roche and Novartis, leading pharmaceutical stocks up by 1.4 percent and 1.3 percent respectively. Partners Group and UBS are also among the top performers, both up by 1.5 percent. Market sentiment remains cautious, with a trader suggesting that purchases could decrease and investors may pull back before the weekend. Daniel Lüchinger, CIO of GKB, warns that if the political stalemate in the US persists, the positive mood on the stock market could reverse, triggering profit-taking. The SMI index's rise above 12,500 points is a notable achievement, but market participants remain watchful, particularly regarding the US government shutdown's potential impact on macroeconomic stability.
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