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The shares of Basel-based pharmaceutical group Roche remain a source of concern for investors this year. We think the outlook for 2024 is slightly better. However, the shares remain exposed to risk.
In the past, European luxury goods companies were among the stock market favourites. This year has been different.
US retailers had a strong start to the holiday shopping season. However, it is unclear whether the momentum will continue in the coming weeks.
The shares of the Swiss luxury goods group have lost some of their lustre in recent months. The dry spell is not over yet, but the price correction also opens up opportunities.
The Swiss stock market heavyweights Nestlé, Novartis and Roche together account for half of the weightings of the Swiss Market Index. The relative stability of these stocks makes them popular underlyings for defensive yield enhancement products.
2023 has not been a veray exciting year on the Swiss stock market so far. The SMI® is up a good 3.5% (ytd), while the Swiss Performance Index®, which includes most of the remaining Swiss stocks in addition to the heavyweights from the leading index, is up about 6%. However, not all constituents of these indices can show positive performance. The shares of large corporations such as Roche and Zurich, as well as those of smaller companies, are trading below their prices at the beginning of the year. Nevertheless - or maybe because of this - favorable opportunities are emerging.