Swiss stocks are still rising, allowing the SMI to beat a new historical record at 10,100 points. This index rise takes on even more value when we know that the Swiss franc has remained widely sought after for several months, in a context where investors are turning massively to safe havens.

On the last upward movement started at the end of August, the SMI rose to 3.5%, driven by the banking sector. Indeed, Credit Suisse gained more than 16% as well as UBS (+11%), with analysts believing that the decline in sector objectives over 2019 is largely integrated into prices. The champion for the entire 2019 financial year is still Nestlé, which leads the performance with 37% and thus consolidates its capitalisation at 318 billion dollars.

Graphically, the prices come back to test the upper line, around 10,100 points. At this stage of the configuration, the stakes are high. A new bullish breakthrough and the index would know on unknown ground. The main target, taking into account the effect of trend carryover, would be positioned close to 10,400 points. On the other hand, a return below 10,000 points would put the SMI back into a prolonged pattern of reflection with a predominantly neutral focus.