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Swiss Market Index Closes Higher Amid Busy Earnings Day

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The blue-chip Swiss Market Index ended Tuesday's trading session 1.04% in the green as earnings season remains in full swing amid another quiet day of local economic news.

It was a busy earnings day in Switzerland with specialty chemicals company Sika (SIKA.SW), fluid engineering company Sulzer (SUN.SW), and packaging company SIG Group (SIGN.SW) among corporates that reported financial results.

Sika gained 9.77% after it raised its 2026 revenue growth guidance to between 3% and 6% in local currencies from the previous 1% to 4%. The company also reaffirmed its medium-term targets for sustainable and profitable growth, as it booked a year-over-year net sales growth of 4% in local currencies to 5.59 billion francs in the first half, while net profit declined to 552.1 million francs from 554.4 million francs.

"H1'26 EBITDA was 4.3% ahead of consensus (H1'26 sales +2.9% ahead), with margins 26bps higher than consensus ... We highlight that H2'26 organic growth is implied at ~+2.6%, compared with the +2.9% seen in H1'26, all while the comparison base gets ~2ppts easier (from +0.6% in H1'25 to -1.5% in H2'25), which could signify conservatism in the guidance. We expect the shares will perform relatively well today given the accelerated momentum on organic growth," according to analysts at RBC Capital Markets.

Meanwhile, Cicor Technologies (CICN.SW) agreed to purchase the Malaysian subsidiary of Singapore-based intelligent energy solutions company EDMI for $15 million to $20 million. The deal is anticipated to complete in the fourth quarter, with the electronic components company also entering into a long-term strategic manufacturing partnership with EDMI. At closing, Cicor's shares were up 3.58%.

"We welcome the transaction and view it as a significant step toward Cicor achieving its goal of CHF 1bn in revenue by 2028. Following the failed TT acquisition in late 2025, this marks the first M&A transaction of 2026, though we anticipate further deals this year," Baader Helvea Equity Research said in a note. "In our view, management has demonstrated that it pursues acquisitions only when the price and synergy effects make sense for the Cicor Group, and it continues to consistently follow this strategy."

In other news, a US appeals court dismissed the lawsuit against Switzerland over the write-down of Credit Suisse's outstanding additional tier 1 bonds during UBS Group's (UBSG.SW) emergency takeover of the collapsed lender, Finews.com and Swiss newspaper Aargauer Zeitung reported. The court ruled that Switzerland has sovereign immunity and beyond the jurisdiction of US courts as it acted in its capacity as a sovereign state rather than as a market participant when the write-down was ordered. UBS shares closed 0.91% lower.

Outside Switzerland and in geopolitical news, Iran's foreign ministry said it held talks with counterparts in Saudi Arabia and Oman over the future of the Strait of Hormuz "to establish stability in the region and eliminate the insecurity imposed on the Strait of Hormuz caused by the aggressive actions of the United States," according to a CNBC report. The statement comes after President Donald Trump said the US is having "good talks" with Iran, which denied conducting any direct discussions with the former.

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