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Swiss Shares Start Week in Red Amid New Iran-Israel Strikes

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Swiss shares started a new week in the red as traders digested fast-moving developments in the Middle East in the wake of new fighting between Iran and Israel.

The Swiss Market Index closed 0.50% lower on Monday, following reports that Israel and Iran exchanged fire in yet another fresh bout of escalation in the region. US President Donald Trump called on both sides to "immediately stop 'shooting'" as Washington and Tehran continue to work on an extended ceasefire agreement.

"Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE! Final negotiations on 'Peace' are proceeding, subject to ignorance or stupidity getting in its way," Trump posted on Truth Social. Following Trump's post, media reports indicated that Iran has ended its strikes against Israel, but warned that it would strike again if attacks on Lebanon resume.

On the corporate front, Roche (RO.SW) signed an exclusive licensing and collaboration deal with Nasdaq-listed Nurix Therapeutics to jointly develop and commercialize bexobrutideg, an investigational treatment for people living with B-cell malignancies. Nurix will receive an upfront cash payment of $700 million and will be eligible for milestone payments of up to $2.3 billion. The Swiss drugmaker fell 1.02%.

Meanwhile, Partners Group (PGHN.SW) co-founder Alfred Gantner told Swiss Sunday paper SonntagsZeitung that last week's drop in the alternative asset manager's share price was a "massive overreaction" to the company's decision to cap withdrawals at certain evergreen funds. The private equity group was up 0.31%.

Outside the blue chip, AlphaValue/Baader Europe raised its price target on peptides and oligonucleotides manufacturer Bachem (BANB.SW) to 79.6 francs from 78.3 francs following "minor changes" to earnings estimates ahead of the company's first-half results on July 30.

"Bachem is recruiting ahead of production output growth, compressing near-term margins while there are no recorded sales for the building. Production should start at the end of 1H despite no sales being recorded. Depreciation is revised upward to 8.5% of total sales for 2026, with depreciation normalising afterwards as a % of sales. Increased depreciation offsets the downward EBIT revision, but does not offset the subsequent earnings drop. As a result, EPS is revised slightly downward," the research firm said. Bachem declined 0.15%.

It is a quiet week for economic data, with no major indicators scheduled until June 15.

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