Boeing (+5.9%) announced that UPS (+2.3%) has placed an order for 19 new 767 freighters‘, completing a record-breaking year of orders for the aircraft. UPS plans to receive the jets - which carry a list price of $4.2B - by 2025, ahead of new environmental rules that would necessitate potential design changes. FedEx has 38 of the aircraft on order. Boeing said it has received a total of 80 firm orders this year for wide-body cargo aircraft and more than 80 for converted aircraft, a new record for the Chicago-based company. Demand for dedicated cargo planes has exploded due to the growth of e-commerce and the express delivery market.

The SMI gained 0.7 percent to 12,683 points. Among the 20 SMI stocks, there were 16 price gainers and four losers. A total of 31.86 (previously: 39.75) million shares were traded. Demand was particularly strong for cyclically sensitive stocks that had been sold off significantly the previous day. Credit Suisse rose by 3.5 percent and UBS advanced 2.1 percent. Insurance stocks were now also in demand again. Swiss Life increased by 1.4 percent, Swiss Re by 1.8 percent. Zurich Insurance was also up 1.8 percent. The index heavyweight Nestle, which is considered a defensive stock, was left behind. The share fell by 0.2 percent. Following Richemont's recent share price weakness, Bryan Garnier takes a more positive view on the stock. The luxury goods maker is among analysts' favorites in the sector, along with LVMH, Hermes and Kering. The share rose by 0.9 percent. However, Zur Rose was the main focus. The share slumped by 16 percent. The fact that the introduction of e-prescription in Germany has been postponed indefinitely for the time being had a lasting impact. Analysts at Baader rated the news as "disappointing" and have consequently removed Zur Rose from their top pick list.

European stocks rose, resuming the seesaw action that has become the signature of markets since the emergence of the Omicron Covid-19 variant. The Stoxx Europe 600 index edged 1.4 percent higher to 474 points, after losing nearly 2 percent in total during Friday and Monday's sessions. In Paris, the CAC 40 and SBF 120 increased by 1.4% each. The DAX 40 in Frankfurt and the FTSE in London also appreciated by 1.4%. Bolloré Group (+11.5%) received an offer from the shipping company MSC to buy its subsidiary Bolloré Africa Logistics for 5.7 billion euros, including debt. This offer concerns all the group's transport and logistics activities in Africa, Bolloré said in a statement. Covivio (+2.2%) announced the sale of its shares in two office buildings to Crédit Agricole Assurances for 325 million euros. Airbus (+4.6%) intends to "vigorously defend its position" after being taken to court by Qatar Airways to resolve their dispute over the deterioration of the surface of some A350 fuselages. The British competition authority, the Competition and Markets Authority (CMA), has decided to submit the acquisition of the utilities group Suez (-0.5%) by its rival Veolia (+0.8%) to an in-depth investigation, known as "phase 2". The oil groups Aker BP (+4.4% in Oslo) and Lundin Energy (+4.5% in Stockholm) announced on Tuesday that they had reached an agreement to merge their exploration and production activities, a transaction worth around 12 billion euros. Rockhopper Exploration shares increased by 22.4% after it said that a tribunal in its arbitration against the Italian government has again rejected Italy's intra-European Union jurisdictional challenge. The London-listed oil-and-gas exploration group said Italy previously made a request and the tribunal agreed to admit a recent ruling by the European Court of Justice related to intra-EU Energy Charter Treaty disputes.

U.S. stocks climbed Tuesday, resuming the seesaw action that has become markets’ signature since the emergence of the Omicron Covid-19 variant. The S&P 500 advanced 81.21 points, or 1.8%, to 4649.23. The Nasdaq Composite rose 360.14 points, or 2.4%, to 15341.09. The Dow Jones Industrial Average gained 560.54 points, or 1.6%, to 35492.70. All three indexes fell in the three previous trading sessions, pushed down by worries over new Covid-19 lockdowns. Investors have a mix of concerns heading into the end of the year. The rise in Omicron cases could prolong the global supply-chain disruptions that have added to inflation. However, there also are signs that vaccine boosters offer protection against Omicron. The Biden administration said Tuesday that it is preparing to distribute 500 million free at-home Covid-19 testing kits to Americans to tackle rising cases. General Mills shares fell $2.73, or 4%, to $65.06 after the food company reported a quarterly profit that missed expectations. Micron Technology shares gained $8.65, or 11%, to $90.68 after the memory-chip company posted strong results and provided better-than-expected forecasts. Rite Aid shares climbed $2.65, or 21%, to $15.05 after the drugstore chain said that its plans to close stores will boost earnings. Nike shares rose $9.65, or 6.2%, to $166.63 after the sneaker maker posted earnings and sales that topped analysts’ expectations, despite persistent supply-chain challenges. Investors also are eyeing what themes are going to drive the markets next year. Value stocks, such as financials, energy, utilities, materials and industrials, tend to do well when interest rates go higher.

Stocks in Asia were cautiously higher. In Tokyo, Japan’s Nikkei 225 closed only minimally higher at 28,540 points after its 2.1 percent jump. Some tailwind originated from the yen, which has weakened from 113.70 per dollar to 114.10 at the same time the previous day. China’s Shanghai Composite gained 0.8%. South Korea’s Kospi added 0.3%.

U.S. Treasury yields rose the most in about two weeks on Tuesday, fueled by optimism over President Joe Biden’s plan to fight rising COVID-19 cases and the prospect that vaccines may be more effective than first thought in fighting the new omicron variant. The yield on the benchmark 10-year U.S. Treasury note ticked up to 1.487% Tuesday, from 1.418% at 3 p.m. Eastern Time on Monday.

UBS raises Deutsche Börse to Buy (Hold) - Trader
Berenberg lowers Novem target to EUR 26 (28) - Buy
Baader lowers Zur Rose to Add (Buy) - Target CHF 300 (450)

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