Jan 5, 2026, 10:48Jan 5, 2026, 10:48
Most European stock exchanges started trading with price gains at the start of the week. They have largely ignored the geopolitical tensions surrounding the US attack on the South American oil state Venezuela. The Swiss SMI, on the other hand, was slightly in the red due to defensive heavyweights.
Economically sensitive stocks, on the other hand, were bought in the opening phase. (symbol image)Image: shutterstock/watson
Tailwind for Europe came from the Asian markets, where strong gains in technology stocks in particular provided positive guidance. In the first minutes of trading, the leading index in London rose by 0.2 percent, in Frankfurt the DAX rose by 0.6 percent and in Paris the Cac 40 gained 0.3 percent. Market participants pointed out that the strong development in Asia was supporting the mood in Europe, while the escalation surrounding Venezuela initially only played a minor role.
In Zurich, however, the SMI started in the red at 0.7 percent. The overall market was held back in particular by the defensive heavyweights. Economically sensitive stocks, on the other hand, were bought in the opening phase. Market circles said profit-taking after the strong December did not come as a surprise.
Tech stocks are driving
On the Asian stock exchanges, the markets in Japan and South Korea in particular made significant gains. The Nikkei index in Tokyo closed with a gain of almost three percent, the Kospi in Seoul gained more than three percent. The drivers were once again stocks from the technology and semiconductor sectors, which benefited from continued optimism around artificial intelligence and a positive outlook for 2026.
The markets in Japan and South Korea have increased significantlyImage: keystone
The Venezuela crisis had a primarily indirect impact on the stock markets. While oil prices remained under pressure after initial losses, investors viewed the situation on the oil market as manageable, as Venezuela currently only accounts for a small share of global production. Accordingly, there was no flight from riskier investments.
Classic safe havens, on the other hand, were in greater demand. The price of gold rose significantly, reflecting a certain level of hedging against geopolitical risks. Overall, however, confidence prevailed on the stock markets that the tensions between Washington and Caracas will not have a serious short-term impact on the global economy and corporate profits. (sda/awp/afp/dpa)
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