$NOVN.SW

6 stories mentioning NOVN.SW

Every FINWIRES story that references NOVN.SW, newest first.

Swiss Blue-chip Index in Green as ECB Rate Decision Takes Center Stage

The Swiss Market Index remained in the green on Thursday, closing 0.49% higher, amid a quiet day of local economic news, with investors turning their attention to the European Central Bank's latest rate move.The ECB increased its three key interest rates by 25 basis points, as widely expected, citing inflationary pressures due to higher energy prices as the Middle East war continues. The deposit facility rate will stand at 2.25%, while the interest rates on main refinancing operations and marginal lending facility will be 2.40% and 2.65%, respectively, effective June 17. Baseline inflation projections for 2026 and 2027 were also upwardly revised."Upon delivering the expected 25bp rate hike today, the European Central Bank (ECB) did not answer the key question: will it make a follow-up mistake by tightening the monetary screws again in July or September?" Berenberg Chief Economist Holger Schmieding said in a note. "However, the significant upward revision to the call for core inflation in 2027 from 2.2% to 2.5% relative to very modest cuts to its staff projections for growth by 0.1ppt each for 2026 (to 0.8%) and 2027 (to 1.2%) sends a hawkish message. That today's decision to raise rates today was unanimous, as ECB president Christine Lagarde explained at the press conference, also indicates a clear risk that the ECB will tighten policy again in coming months."Over to corporates, BofA Global Research raised its price objective for Compagnie Financière Richemont (CFR.SW) to 185 francs from 175 francs while retaining the stock's buy rating, expecting the company to see a resumption in earnings growth in fiscal 2027 following three years of "broadly stable" and a "strong" finish to fiscal 2026. The Swiss luxury goods group's stock gained 2.72% at closing."This is driven by 10% cFX revenue growth, with 5% contribution from pricing already announced, 2% network expansion and 3% volume/mix. More importantly, the single biggest headwind on group profit (gold & FX) has swung from a headwind to a tailwind," according to the research firm. "We estimate GM to be +20bps YoY at current gold and FX rates (albeit we note it is highly sensitive to spot moves). Therefore, for the first time in a few years, our FY27E EBIT is 5% above consensus."Novartis (NOVN.SW) also saw its shares rise 2.10% as it announced that the biomarker cohort for its Fortitude phase 1/2 study evaluating its investigational delpacibart braxlosiran therapy met its primary and key secondary endpoints of reduction in KHDC1L (cDUX) and creatine kinase levels in facioscapulohumeral muscular dystrophy patients. The Swiss pharmaceutical major plans to discuss the results with global regulatory agencies, adding that it is currently enrolling patients for the phase 3 trial.

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Asia Markets46d ago

Swiss Stocks Recover as ECB, BoE Rate Decisions Take Spotlight

The Swiss Market Index bounced back to positive territory on Thursday, closing 0.80% higher, ahead of the Labor Day holiday as investors turned their attention to the latest economic data prints and key monetary policy decisions in Europe.Switzerland's KOF Economic Barometer climbed to 97.9 points in April from the revised 95.6 points in the previous month."After the considerable drop in the previous month, it continues to remain below its medium-term average. The outlook for the Swiss economy remains muted, despite this month's increase," the KOF Swiss Economic Institute said. "Among the indicator bundles included in the Economic Barometer, the indicators for manufacturing, for other services and for private consumption show particularly positive developments."Elsewhere and on the regulatory front, the European Central Bank left its three benchmark interest rates unchanged, as expected. In the UK, the Bank of England also maintained its bank rate at 3.75%, after its monetary policy committee voted 8-1 in favor of a hold. Both central banks cautioned that the Middle East conflict continues to pose upside risks to inflation due to higher energy prices."All in all, the main take-away from today's ECB meeting can probably be described as another hawkish shift, introducing a clear hiking bias to its wait-and-see stance. It's still hard to see that the ECB would really want to fight an exogenous supply shock at the cost of worsening an economic downturn. However, a rate hike, be it symbolic or even a policy mistake, at the June meeting has clearly become more likely today," ING said. The research firm also expects the BoE to carry out a "one and done" rate increase in June.Over to corporates, OC Oerlikon's (OERL.SW) order intake and sales grew 17.9% and 5.3% year over year, respectively, to 455 million francs and 378 million francs in the first quarter, both at constant currency. The Swiss surface technologies and advanced materials company's shares added 4.43% at closing.Swiss drugmaker Novartis (NOVN.SW) also saw its shares rise 2.26% after announcing plans to open a new facility in the US state of North Carolina to manufacture active pharmaceutical ingredients for solid dosage tablets, capsules and RNA therapeutics. The facility is part of the company's wider $23 billion investment plan in the US to boost production capacity.The SIX Swiss Exchange is set to reopen on May 4.

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Asia Markets48d ago

Swiss Market Index Remains in Red; SIG Group Shares Rise

The Swiss Market Index remained in negative territory on Tuesday, closing 0.13% lower, as investors mull over a barrage of corporate earnings releases amid a quiet day of local economic news.Pharmaceutical major Novartis (NOVN.SW), packaging company SIG Group (SIGN.SW), machinery industry company Bucher Industries (BUCN.SW), and biopharmaceutical group Idorsia (IDIA.SW) were among Switzerland-listed companies that published financial results.SIG Group saw its shares jump 12.82% as it reported a year-over-year surge in first-quarter net income to 67.3 million euros from 15.6 million euros, mainly driven by unrealized gains from polymer derivatives and aluminum. The Switzerland-based packaging company's total revenue, on the other hand, declined to 714.3 million euros from 745.9 million euros. For 2026, the group maintained its guidance of total revenue growth within the 0% to 2% range at constant currency and constant resin.Meanwhile, Berenberg cut its price target for Barry Callebaut (BARN.SW) to 1,268 francs from 1,487 francs, with the stock's hold rating unchanged, following the Swiss chocolate and cocoa products group's fiscal 2026 EBIT guidance downgrade amid a disruption in cocoa bean prices."The company is now guiding to a mid-teen decrease in EBIT, which reflects considerably less optimistic expectations relative to guidance reiterated as part of its Q1 2026 results, which estimated low- to mid-single-digit growth in EBIT. While volume guidance was upgraded slightly, we expect subdued volume trends to persist until there is a meaningful inflection in downstream chocolate sales," the research firm said. Barry Callebaut was up 1.53%.Elsewhere and in economic news, the European Central Bank's latest Consumer Expectations Survey showed that median expectations for inflation in the next 12 months rose to 4% in March from 2.5% a month before. The estimate for the next three years also increased to 3% from 2.5%, while the expectation for five years ahead ticked up to 2.4% from 2.3%.

^SSMI$BARN.SW$BUCN.SW$IDIA.SW$NOVN.SW$SIGN.SW

US Markets48d ago

Novartis Reports First-quarter Sales Dip Amid Growing US Generic Competition

Novartis (NOVN.SW) on Tuesday reported a decline in first-quarter sales as an expected rise in generic penetration in the US outweighed the momentum of priority brands.Shares in the Swiss drugmaker was down 4% by midday trading.For the three months ended March 31, net sales were down 5% at constant currency to $13.11 billion. Volume added 13 percentage points to growth, but this was more than offset by a hit of 14 percentage points due to generic competition.Key therapies that continued to perform include leukemia treatment Scemblix, which surged 79% at constant currency to $433 million, and breast cancer drug Kisqali, which rose 55% to $1.52 billion. Conversely, revenue from heart failure drug Entresto dropped 46% to $1.31 billion.Against this backdrop, Novartis reiterated its 2026 financial targets, projecting low single-digit growth for net sales alongside a low single-digit decline in core operating income. Should late April exchange rates hold steady through year-end, currency tailwinds are projected to add 2 percentage points to net sales and 1 percentage point to core operating income, the company noted."With the momentum we are seeing across the business, we remain on track to deliver our [full-year] guidance and look forward to multiple readouts in the second half that could raise our mid- to long-term growth outlook," Novartis Chief Executive Officer Vas Narasimhan said.Novartis' net income reached $3.16 billion in the first quarter, down from $3.61 billion in the same period a year ago. EPS dropped to $1.65 from $1.83

$NOVN.SW

Research49d ago

AlphaValue/Baader Europe Upgrades Novartis to Add, Trims PT

AlphaValue/Baader Europe on Monday upgraded Swiss drugmaker Novartis (NOVN.SW) to add from reduce and lowered its price target to 131.00 francs from 134.00 francs.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$NOVN.SW

Asia Markets52d ago

Swiss Equities Close Week Downbeat; Novartis, Kuehne+Nagel in Red

Swiss equities slipped back into negative territory, with the Swiss Market Index down 0.59% on Friday's close, as investors digest a slew of corporate releases and trading updates.Buildings materials company Holcim (HOLN.SW), logistics group Kuehne+Nagel (KNIN.SW), instrumentation company Inficon (IFCN.SW), and contract development and manufacturing organization Siegfried Holding (SFZN.SW) were among Switzerland-listed companies that reported financial results.Kuehne+Nagel reported a year-over-year drop in first-quarter earnings to 248 million francs from 303 million francs, while net turnover fell to 5.60 billion francs from 6.33 billion francs. The results were impacted by cost-saving measures and sea logistics disruptions caused by the conflict in the Middle East. The stock was down 4.30% at the end of the trading day.Meanwhile, Novartis (NOVN.SW) secured a positive recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use for the approval of Itvisma for treating 5q spinal muscular atrophy in patients aged two and above.The Swiss drugmaker also withdrew its EMA type 2 variation application for Pluvicto to expand the indication to include treating adults with prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer in pre-chemotherapy following the committee's feedback. Novartis shares closed 4.30% lower.On the macroeconomic front, Swiss National Bank (SNBN.SW) Governing Board Chairman Martin Schlegel expects Swiss economic growth to be "rather subdued" in the short term before seeing an upturn over the medium term "to some extent" amid "significantly" increased uncertainty arising from the Middle East conflict. In terms of inflation, the SNB forecasts it will further increase in the coming quarters, mainly driven by higher energy prices.

^SSMI$HOLN.SW$IFCN.SW$KNIN.SW$NOVN.SW$SFZN.SW$SNBN.SW