STOCK MARKET REPORT by CEO Silvano Grimaldi of the independent asset management company GRIMALDI & PARTNERS Ltd.

MONTHLY REVIEW

The international stock markets ended the month of MARCH with slight gains.

AFFECTING FACTORS

Ongoing concerns in the banking sector about the bankruptcy of the US Silicon Valley Bank and the troubled major Swiss bank Credit Suisse.

EQUITIES IN FOCUS

NOVARTIS - Study success with breast cancer drug gives Novartis a boost

The Swiss pharmaceutical giant Novartis has sparked hopes of a boost in sales among investors after the study success of its breast cancer drug Kisqali. In the test series called NATALEE, the drug significantly reduced the risk of recurrence in women with early-stage breast cancer, as the group announced. Novartis shares soared 6.4 percent to CHF 81.26, putting them at the top of both the Swiss standard stocks and the European healthcare stocks.

MONTHLY OUTLOOK

The old topics are also the current topics: the fight against inflation and the interest rate policy of the American Federal Reserve; the course of the economy - soft landing versus no landing); the profit development of the companies and finally the Ukraine war.

In recent years, April has proven to be a strong stock market month.

We expect a slight positive trend on the stock markets for April 2023.

STOCK RECOMMENDATION: NOVARTIS