Transocean will join the SMI - Photo SWX
Zurich, Switzerland (GenevaLunch) – In spite of first quarter financial difficulties related to the explosion of the Deepwater Horizon oil rig off the Louisiana coast, Transocean will be admitted to the Swiss Market Index (SMI) effectively 21 June.
Transocean, the world’s largest offshore oil rig company based in Zug, will be admitted to the blue-chip SMI replacing Swiss Life Holding on the Zurich exchange.
The company moved to Switzerland in 2008 from the US Cayman Islands.
Zurich, Switzerland (GenevaLunch) - Global economic gloom caught up with the Swiss stock exchange in November, which recorded a 44.9% drop in turnover compared to October.
Zurich, Switzerland (GenevaLunch) – Fears of a global recession is sparking European and Asian market losses. The Swiss stock market is also feeling the heat and was down at opening today, 24 October.
Zurich, Switzerland (Le Temps, Fre) – The Swiss stock exchange opened Monday with a new "family" of stocks, the SLI (Swiss Leader Index), part of its most important restructuring since 1988. The index contains the 30 companies with the most liquid shares traded in Switzerland. The SLI’s opening quote was 1411.18.
The exchange’s star index of shares, the SMI, has 25 companies and 24 of these figure on the new index (Swatch’s nominal shares are not listed). A significant difference between the two is that the new SLI limits or caps trading, thus reducing the weight of the four major players, Nestlé, Novartis, Roche and UBS, to 9%. They account for 60% of the SMI index.
