The Swiss stock exchange continued the upward trend in the middle of the week.
The trigger was a message on Chinese television that a means of effectively treating the lung disease caused by the coronavirus has been found. Researchers in England are also said to have made a breakthrough. As a result, the Swiss leading index SMI even hit a level of more than 11,000 points for the first time in the afternoon. At the close, it was still 1.79 percent up at 10,994.15 points.
According to market participants, if the reports of a medication for treatment prove to be true, this could have a positive impact on the global economy. “Many companies have cut production in China because of the virus,” said one dealer. “If the report is correct and an effective drug is really available soon, the markets should reach new record levels,” said another trader. ECB chief Christine Lagarde, however, was not yet swept away by this optimism, who explicitly warned on Wednesday of the effects of the virus.
kw / mk
Zurich (awp)
–
Image source: Stuart Monk / Shutterstock.com, Pavel Ignatov / Shutterstock.com, Maksim Kabakou / Shutterstock.com
,
