The Ukraine war is considered a turning point in geopolitics. On the stock exchanges of many industrialized countries, however, the traces are manageable. The next few weeks should bring clarity as to whether investors are underestimating the situation.
Although commodity prices have risen massively and a much tighter monetary policy is expected, profit expectations are currently high.
Since the beginning of the year, many stock market indices have been in the red – but many of them have already exceeded the level before the outbreak of the Ukraine war. This is also the case for the Swiss standard value barometer Swiss Market Index (SMI), which closed at 12,179 points on Friday.