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Swiss Market Index Ends Week Upbeat; Georg Fischer Climbs

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Swiss stocks staged a recovery on Friday, with the Swiss Market Index up 0.54% at closing, as investors assessed the latest financial, economic and geopolitical updates.

Piping systems company Georg Fischer (GF.SW), microelectronics manufacturer Mikron (MIKN.SW) and market expansion services provider DKSH (DKSH.SW) were among Switzerland-listed companies that reported earnings results.

Georg Fischer saw its shares jump 13.98% as it raised its 2026 sales outlook for its flow solutions business to mid-single-digit organic growth from low-single-digit previously. For the first half, the group swung to a net loss attributable to shareholders of 77 million francs from a year-ago profit of 160 million francs, while net sales fell over the period.

"From an investment perspective, today's release reinforces our constructive view on the structural growth profile of Flow Solutions and confirms that end-market demand remains healthy. However, despite implemented price increases, profitability was slightly disappointing, suggesting pricing power may have been weaker than expected or that the product mix was less favourable during the first half," AlphaValue/Baader Europe said in a note.

Meanwhile, Novartis (NOVN.SW) secured traditional approval from the US Food and Drug Administration for the use of its Fabhalta drug to slow kidney function decline in primary immunoglobulin A nephropathy patients who are at risk of disease progression. The Swiss pharmaceutical major's stock closed Friday's session 1.41% higher.

On the defense front, Switzerland joined the NATO Support and Procurement Agency's ammunition support partnership, which allows for joint procurement of various ammunition types to help reduce costs.

Elsewhere and in economic news, the annual inflation rate in the euro area eased to 2.8% in June from 3.2% in May, while the annual core inflation rate declined to 2.4% from 2.6%, Eurostat's final data showed.

Turning to the Middle East, tensions between the US and Iran escalated for a sixth straight day. Washington widened its military campaign with strikes on transport and military infrastructure in southern Iran, while Tehran retaliated by targeting US military installations and critical infrastructure across the Gulf.

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Update: US Equity Indexes Drop as Chipmakers Push Technology Lower, Iran Warns on Red Sea Chokepoint

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Dow JonesNasdaq CompositeS&P 500$SNDK$TSM
Asia Markets

Update: Technology Slide Pushes Nasdaq, S&P 500 Lower

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Dow JonesNasdaq CompositeS&P 500$SNDK$TSM$UNH
Asia Markets

Exchange-Traded Funds, US Equities Mixed After Midday

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