FINWIRES · TerminalLIVE
FINWIRES

Swiss Blue-chip Index Little Changed; All Eyes on US 'Economic D-Day' Against Iran

By

Swiss stocks commenced the new trading week little changed, with the Swiss Market Index down 0.07%, as investors await details of the US' vow to unleash an "Economic D-Day" against Iran.

In an opinion piece published by the Financial Times over the weekend, US Treasury Secretary Scott Bessent threatened Iran with "the single greatest financial offensive ever marshalled against an adversary," and that any nation conducting financial transactions with the Middle Eastern country would also be isolated. Iranian Foreign Minister Abbas Araghchi dismissed the latest threats as a "desperate" plan and expects it to fail, multiple media outlets including CNBC reported.

Back home, the Federal Statistical Office's second estimate showed that Switzerland's hotel sector recorded a 0.6% annual rise in overnight stays for July. Hotel bookings by Swiss nationals rose 4.1%, while those from foreigners declined 2.3%.

On the corporate front, Roche (RO.SW) secured approval from the US Food and Drug Administration for its Elecsys pTau217 blood test to identify amyloid pathology associated with Alzheimer's disease in people aged 55 and above who exhibit signs, symptoms or complaints of cognitive decline. The single-biomarker plasma blood test was co-developed with fellow pharmaceutical major Eli Lilly (LLY.SW). Roche's shares closed Monday's session 1.05% lower.

Allreal's (ALLN.SW) total sales in the first half decreased to 227.5 million francs from the year-ago 229.8 million francs, while net profit, including revaluation effect, fell 9.6% to 105.6 million francs. Excluding the revaluation effect, net profit stood at 75.6 million francs, up 20.8% year over year. The Swiss real estate developer's stock shed 2.75% at closing.

"For the financial year 2026, Allreal still expects a higher net operating profit and stable balance sheet figures. In the Real Estate segment, rental income will increase and the vacancy rate will decrease again by the end of the year. In the Development & Realisation segment, the company expects a slight rise in income from the sale of condominiums, a slightly higher construction volume and stable operating expenses," the company said in its earnings release. "However, financing costs will increase slightly, as liabilities with a very favourable rate of interest have matured in the first half year."

Related Articles

Asia Markets

Tadawul Shares Surge on Sunday; Saudi Arabia's July Construction Cost Index Ticks Up

The Tadawul All Share Index closed 1.13% in the green on Sunday as investors focus on Saudi Arabia's latest economic release and tariff updates.According to the General Authority of Statistics, the kingdom's construction cost index rose 2.3% annually in July after a 2.7% rise in the prior month. Month over month, the construction index remained steady."CCI for the residential sector recorded an annual increase of 2.2%. This was driven by a 4.2% rise in the costs of renting equipment and machinery, mainly due to a 5.7% increase in the costs of renting equipment and machinery with operators," the regulatory body said in its report. "CCI for the non-residential sector recorded an annual increase of 2.6% compared to the corresponding month of 2025, due to an increase in the costs of renting equipment and machinery by 5.8%, driven by an 7.3% increase in the rental of equipment and machinery with operators, a 1.8% increase in labor costs, and a 3.0% increase in energy costs."Speaking of economic releases, the local economic calendar will see the release of the kingdom's export and import numbers for June on Tuesday. Market watchers will also look out for the estimated quarterly GDP growth rate data of the US on Wednesday.In other news, Canada decided to impose retaliatory tariffs on certain US goods after President Donald Trump ordered a 50% levy on Canadian products. The "dollar for dollar" tariffs will become effective on Sept. 8.Back at home, Saudi Energy Co. (SASE:5110) and Acwa Power (SASE:2082) entered into 15-year storage services deals for the Al-Muwaih, Haden, and Kahafah battery energy storage system independent storage projects in Hail and Makkah.Saudi Energy and Acwa shares closed 0.29% and 1.18% higher, respectively.

^TASISASE:2082
Asia Markets

US Equity Indexes Rise Despite Surging Bond Yields as US Nears Tariff Deal With Canada

US equity indexes rose markedly on Friday, even as bond yields continued to rise after Canada's trade minister Dominic LeBlanc reportedly said the countries are "very close" to finalizing a deal before the Saturday midnight deadline.LeBlanc met US trade representative Jamieson Greer on Thursday and said the two sides were close to finalizing a deal, but added that more work was required, according to a Friday Reuters report.President Donald Trump said in a Thursday Truth Social post that he paused tariffs on certain Canadian goods, adding that the canceled Keystone XL Pipeline may also be revived.In a separate Truth Social post on Friday, Trump said that he had closed a deal to "substantially" lower the price of ground beef for US consumers and will allow up to 300,000 metric tons of the commodity to be imported with no out-of-quota tariff.The Nasdaq Composite rose 0.4% to 26,180.4, and the S&P 500 gained 0.4% to 7,674.3. The Dow Jones Industrial Average rose 0.9% to 53,276.8. Materials and financial sectors led the gainers, while utilities and energy led the decliners.The yield on 30-year Treasuries rose 3.7 basis points to 5.274%, while the 10-year yield gained 3.8 basis points to 4.736%.The US West Texas Intermediate crude oil contract fell 0.2% to $86.64 per barrel.In economic news, Bureau of Labor Statistics data revealed that the unemployment rate fell in 10 US States in July and remained steady elsewhere. The largest unemployment rate declines were observed in South Carolina, Ohio, Illinois, Washington, Pennsylvania, New York, and Rhode Island.The August flash reading of manufacturing conditions from S&P Global fell to 53.2 from 53.9 in July, compared with expectations for no change in a survey compiled by Bloomberg. The index for services conditions rose to 56.8 in August from 54.6 in July, compared with expectations for a decrease to 54.Gold futures gained 2.3% to $4,677.3 per ounce, and silver futures rose 2% to $69.495.Jupiter Neurosciences (JUNS) shares rose 16% after it said it priced a direct offering of 307,692 shares for gross proceeds of $2 million. The offering is expected to occur Aug. 24, with D. Boral Capital as placement agent.In equity news, Ross Stores (ROST) shares rose 4.4%, a day after the company posted a Q2 beat and raise. The company reported fiscal Q2 earnings late Thursday of $2.66 per diluted share, up from $1.56 a year earlier. Analysts polled by FactSet expected $1.95. Revenue for the three months ended Aug. 1 rose to $6.26 billion from $5.53 billion a year earlier. Analysts projected $6.16 billion. The company boosted its full-year EPS guidance to $8.61 to $8.77 from the prior forecast of $7.50 to $7.74. Analysts project $7.89.RF Acquisition Corp II (RFAI) shares rose more than 350% after the company's shareholders approved its merger with Nanyang Biologics at an extraordinary general meeting, according to a US Securities and Exchange Commission filing.

Dow JonesNasdaq CompositeS&P 500$JUNS$RFAI$ROST
Asia Markets

US Equity Indexes Lower This Week as Trump Threatens Major Economic War on Iran

*US equity indexes were lower this week after President Donald Trump warned of severe economic sanctions against Iran and any country that offers a lifeline to the Middle East nation.* The S&P 500 hovered around 7,672.5 on Friday versus 7,785.76 a week ago. The Nasdaq Composite stood at about 26,159.7, compared with 26,729.16 a week earlier, and the Dow Jones Industrial Average was lower at 53,207.2, versus 53,732.41 at the end of last week.* Trump warned of extreme economic actions against Iran and any country that supports or conducts business with the Middle East nation after the deadline to reach a permanent peace deal expired. Iran's Foreign Minister Seyed Abbas Araghchi dismissed Trump's warning in an X post, describing it as a diversion from America's challenges of "unprecedented debt & surging interest costs."*Bond yields continued to rise despite the Treasury Department ramping up repurchases of long-dated government debt, and Secretary Scott Bessent stated that the repurchases could exceed $4 billion per operation, CNBC reported Thursday, citing an interview with the official.*Most Federal Open Market Committee participants agreed to maintain the federal funds rate at 3.50% to 3.75%. While FOMC participants acknowledged that inflation remained elevated, most expected it to decline over the remainder of the year as the effects of tariffs and earlier energy price hikes fade. They also observed that economic activity continued to expand at a robust pace while labor market conditions appeared stable.*President Donald Trump also paused tariffs on certain Canadian goods, according to a Truth Social post. He also said the Keystone XL Pipeline, which was canceled in 2021, may be revived. The tariff play comes ahead of negotiations for the US-Mexico-Canada Trade Agreement.*The August flash reading of manufacturing conditions from S&P Global declined to 53.2 from 53.9 in July, compared with expectations for no change in a survey compiled by Bloomberg. The index for services conditions rose to a 20-month high reading of 56.8 in August from 54.6 in July, compared with expectations for a decrease to 54.*US mortgage applications fell by 0.4% in the week ended Aug. 14, with an increase in refinancing activity offset by declining home purchase applications, according to the Mortgage Bankers Association.*According to the Labor Department, US initial jobless claims declined to 206,000 in the week ended Aug. 15 from the upwardly revised 212,000 level in the week earlier, and lower than 210,000 expected in a survey of analysts compiled by Bloomberg.*In company news, Moderna (MRNA) shares climbed by over 100% this week, and Merck (MRK) shares gained over 11% after the companies said a trial of intismeran autogene combined with Keytruda met the primary endpoint of recurrence-free survival and a key secondary endpoint of distant metastasis-free survival in patients with completely resected stage IIB-IV melanoma.

Dow JonesNasdaq CompositeS&P 500$MRK$MRNA