STOCK MARKET BLOG SEPTEMBER 2023

by the CEO Silvano Grimaldi of the independent asset management company GRIMALDI & PARTNERS AG

MONTHLY REVIEW

The international stock markets ended the month of SEPTEMBER with losses.

BURDENING FACTORS

Concerns about inflation, fueled by rising oil prices, proved to be a burden .
Rising inflation could force the US Federal Reserve to keep interest rates at their high level for a longer period of time , thereby further slowing the already weakening economy.
In addition, continued high oil prices and good economic data are keeping interest rate concerns alive.

EQUITIES IN FOCUS

SWATCH shares on the rise after solid data from China

Swatch shares are benefiting from positive economic data from China. The data suggests that China's recently weakening economy is stabilizing. The news is positive for the luxury goods industry.

These are signals of hope for the luxury goods industry. Market observers and economists have recently pointed out that the economic recovery in China is not progressing quickly as expected.

Overall, the reviews at Swatch are less positive. Some analysts recommend buying. Swatch recently scored points with the launch of its brand collaboration with Blancpain.

MONTHLY OUTLOOK

After the summer months and the September lows, the stock markets are expected to stabilize in October. The long US interest rates are currently weighing on the stock markets. However, a further decline in inflation and expectations of a mild recession may boost the stock markets.

After a low in October, we expect a positive trend on the stock markets.

STOCK RECOMMENDATION: SWATCH