Swiss stocks remained in the green on Wednesday, with the Swiss Market Index closing 0.46% higher, amid a busy day of corporate earnings and economic data prints across major markets.
Switzerland's industrial production, adjusted for calendar effects, increased 5.5% year over year in the second quarter, following a revised 7.6% drop in the prior three-month period, according to data from the Federal Statistical Office. Analysts expected a 4.7% fall for the month.
Zooming out to the euro area, the annual inflation rate ticked up to 2.9% in July from 2.8% in June, while the annual core inflation rate rose to 2.5% from 2.4%, Eurostat's final data showed. In the UK, the annual inflation rate accelerated to 2.9% in July from 2.6% in the previous month, while the annual core inflation rate remained stable at 2.6%.
Over to corporates, Geberit (GEBN.SW) shares jumped 7.44% at closing as it booked a 2.8% year-over-year rise in first-half net sales to 1.71 billion francs, largely driven by "significant" volume growth due to an improved market environment in Europe and robust product demand. The Swiss sanitary products and bathroom ceramics manufacturer's net income climbed 7.4% over the period to 364 million francs.
"Overall, we view the release as clearly positive given the beat on volume growth in 2Q26 (+8.8% vs 4.7% expected according to Vara Consensus). We would nevertheless remain cautious on the broader residential construction environment, as affordability remains constrained by the still-high interest-rate backdrop. We also see this reflected between the lines of management's guidance, which we view as relatively conservative given the strength of Q2 local-currency sales growth, even after allowing for the usual seasonal pattern," AlphaValue/Baader Europe noted.
Straumann Holding (STMN.SW) was also among several Switzerland-listed companies that published financial results, reporting an increase in first-half IFRS revenue and net result to 1.38 billion francs and 250.7 million francs, respectively, from the year-ago 1.35 billion francs and 238 million francs. The dental products company also appointed Christopher Norbye as its chief executive officer with effect from Dec. 1, succeeding Guillaume Daniellot, as part of a planned leadership transition. At the end of the trading day, the stock was down 2.45%.
On the defense front, the Swiss Federal Council will request an additional 970 million francs from parliament for key investments in the country's security, with the financing earmarked for short- and medium-range ground-based air defense systems, a semi-mobile medium-range radar and defense against mini-drones. The council also plans to invest 100 million francs over the next few years to bolster the army's self-protection capabilities.
Elsewhere and in geopolitical news, President Donald Trump said the US is not in any talks with Iran and has no intention of resuming negotiations, while claiming that the Strait of Hormuz is open, multiple media outlets including CNBC reported. He also ruled out the possibility of extending the recently expired 60-day ceasefire deal with Iran.