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Switzerland's consumer sentiment index rose to -38 points in May from -40 points earlier, according to data from the State Secretariat for Economic Affairs published Monday.The latest reading matched the consensus estimate for the month.In the previous year, the index stood at -37 points.
Switzerland's monthly producer and import price index declined 0.4% in May, after a 0.8% gain in April, data from the country's Federal Statistical Office showed Monday.Analysts expected a 0.4% uptick for the month.On a yearly basis, Swiss producer and import prices were 1.8% lower, against the 2% drop earlier.
The Swiss Market Index ended the trading week in positive territory, closing 1.32% higher on Friday, as investors assessed fresh economic data prints while closely monitoring the geopolitical tensions in the Middle East.The US and Iran are reportedly close to signing a memorandum of understanding in Geneva this weekend to end the war in the Middle East, according to multiple media outlets including Reuters and The Guardian. However, Iran's official Islamic Republic News Agency warned against media speculation over a potential deal, noting that Tehran would not cede control of the Strait of Hormuz."Trump has said many times before that a deal is very close, only for hostilities to resume. However, there does appear to be more positive noise around the deal this time, not just from the US but also from other parties involved in the negotiations. Obviously, the key is the message coming out of Tehran. And for now, it has been very quiet," analysts at ING said. "Therefore, we would be cautious about assuming that the extension of the ceasefire is a done deal. Even if it is, it could be fragile. And clearly, if nuclear talks do not progress, it could very easily fall apart."Back home, the Swiss Federal Council approved the adoption of a joint declaration regarding a partnership between Switzerland and Vietnam aimed at bolstering and formalizing the two countries' bilateral ties. The council also set the effective date of the revised Anti-Money Laundering Act on Oct. 1.Over to corporates, Berenberg lowered its price target for Burckhardt Compression (BCHN.SW) to 670 francs from 720 francs, while the stock's buy rating was maintained, noting that the reciprocating compressor technology company delivered a "mixed" set of results for its fiscal year ended March 31. At closing, the stock was up 2.69%."On the positive side, profitability exceeded expectations, with the EBIT margin expanding to 13.3% from 12.9% and comfortably ahead of our and consensus forecasts of 12.8%," the research firm said in a note. "While management attributes the weakness in orders to tariff uncertainty, the Middle East conflict and delayed customer investment decisions, we believe investors will question why the deterioration became visible only at the results stage. The magnitude of the shortfall stands in contrast to previous communication, which had left the market expecting a more resilient demand environment."Swiss citizens will vote on Sunday on whether to cap the country's population at 10 million, a proposal that could impact the hiring of foreign talent for companies.
The Swiss Market Index remained in the green on Thursday, closing 0.49% higher, amid a quiet day of local economic news, with investors turning their attention to the European Central Bank's latest rate move.The ECB increased its three key interest rates by 25 basis points, as widely expected, citing inflationary pressures due to higher energy prices as the Middle East war continues. The deposit facility rate will stand at 2.25%, while the interest rates on main refinancing operations and marginal lending facility will be 2.40% and 2.65%, respectively, effective June 17. Baseline inflation projections for 2026 and 2027 were also upwardly revised."Upon delivering the expected 25bp rate hike today, the European Central Bank (ECB) did not answer the key question: will it make a follow-up mistake by tightening the monetary screws again in July or September?" Berenberg Chief Economist Holger Schmieding said in a note. "However, the significant upward revision to the call for core inflation in 2027 from 2.2% to 2.5% relative to very modest cuts to its staff projections for growth by 0.1ppt each for 2026 (to 0.8%) and 2027 (to 1.2%) sends a hawkish message. That today's decision to raise rates today was unanimous, as ECB president Christine Lagarde explained at the press conference, also indicates a clear risk that the ECB will tighten policy again in coming months."Over to corporates, BofA Global Research raised its price objective for Compagnie Financière Richemont (CFR.SW) to 185 francs from 175 francs while retaining the stock's buy rating, expecting the company to see a resumption in earnings growth in fiscal 2027 following three years of "broadly stable" and a "strong" finish to fiscal 2026. The Swiss luxury goods group's stock gained 2.72% at closing."This is driven by 10% cFX revenue growth, with 5% contribution from pricing already announced, 2% network expansion and 3% volume/mix. More importantly, the single biggest headwind on group profit (gold & FX) has swung from a headwind to a tailwind," according to the research firm. "We estimate GM to be +20bps YoY at current gold and FX rates (albeit we note it is highly sensitive to spot moves). Therefore, for the first time in a few years, our FY27E EBIT is 5% above consensus."Novartis (NOVN.SW) also saw its shares rise 2.10% as it announced that the biomarker cohort for its Fortitude phase 1/2 study evaluating its investigational delpacibart braxlosiran therapy met its primary and key secondary endpoints of reduction in KHDC1L (cDUX) and creatine kinase levels in facioscapulohumeral muscular dystrophy patients. The Swiss pharmaceutical major plans to discuss the results with global regulatory agencies, adding that it is currently enrolling patients for the phase 3 trial.
Swiss shares gained on Wednesday as investors looked for signs of clarity in peace talks between the US and Iran following new reports of escalation in tensions.The Swiss Market Index closed 0.80% higher amid reports that the White House retaliated against Iran for shooting down a US military helicopter near the Strait of Hormuz, complicating ongoing talks between the two countries on an extended ceasefire.The exchange came just hours after US President Donald Trump touted progress in ceasefire negotiations. Taking to Truth Social, Trump said Tehran has "taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!"In corporate news back home, Logitech International (LOGN.SW) dropped 1.36% after it unveiled several new products, including an $80 portable foldable mouse called Mobi Fold.Holcim (HOLN.SW) launched the CaptureLab industrial-scale carbon capture test platform in France for technologies that can be used in cement manufacturing. The building materials company fell 0.39% at closing.Outside the blue-chip, Centiel (CNTL.SW) surged 33.33% after it secured a deal with Neo Critical Power to deploy its uninterruptible power supply technology in the US data center market. The UPS manufacturer anticipates an initial revenue in the low double-digit millions during its current financial year.Cybersecurity and digital identity company WISeKey International (WIHN.SW) announced a $3 million strategic investment in its Sealcoin subsidiary to boost the integration of the Sealcoin ecosystem into the space economy, including the commercialization of space infrastructure. The stock was down 2.91%.In other news, the Swiss government concluded the issuance of a 415.2 million-franc, 0.875% Confederation bond due June 24, 2041. Settlement is on June 24, 2026.
The total number of motor vehicles registered in Switzerland, excluding mopeds, was stable at 30,051, according to the Federal Statistical Office on Wednesday.Of the total, the number of passenger car registrations was 19,678, down 1% year over year.
The KOF Swiss Economic Institute said Wednesday the world economy continued to see moderate growth in June as its global coincident barometer remained stable while its leading barometer rose.The Coincident Global Economic Barometer edged up 0.1 point from the prior month to 103.2 points amid a negative contribution from Asia, Pacific & Africa. Meanwhile, the Leading Global Economic Barometer increased 0.9 point to 101.2 points, thanks to the region's positive contribution offsetting the Western Hemisphere's negative contribution."While both remain slightly above average, the leading indicator has been lower than the coincident indicator for the second consecutive month. From a regional perspective, this is solely driven by sentiment in the Asia-Pacific and African regions. There, the outlook is below average, probably reflecting the consequences of the energy shortage caused by the de facto closure of the Strait of Hormuz," KOF director Jan-Egbert Sturm said.
Swiss shares rose 0.27% at the trading close on Tuesday, reversing the previous day's losses, amid hopes of progress in peace talks in the Middle East and several favorable corporate developments.US President Donald Trump said his country and Iran are "in the final throes of what will be a very, very good deal," hours after brokering a halt to retaliatory strikes between Tehran and Israel.On the corporate front back home, Givaudan (GIVN.SW) jumped 7.48% following a slew of analyst rating upgrades. JPMorgan placed the flavor and fragrance company on Positive Catalyst Watch and Deutsche Bank upgraded to buy from hold, a day after Goldman Sachs raised its own rating to buy from sell."Demand remains solid, with Q2 conditions holding up after the March step-up. Combined with increasing innovation activity, this should lead to a sequential organic sales growth (OSG) acceleration for most," Deutsche Bank said as it also raised its price target on Givaudan to 3,300 francs from 3,000 francs. "At this stage, cost inflation appears to be manageable and should be passed through fairly quickly, ensuring profitability remains relatively well-underpinned, especially as self-help focus remains strong for most names. All in all, we expect Q2 results to be above the consensus."Meanwhile, UBS Group (UBSG.SW) gained 0.21% after sources told Reuters that the Swiss parliament is considering new proposals to ease the capital requirements for the country's biggest bank. The new proposals would reportedly reduce the government's requirement for the bank to fully back its foreign subsidiaries with common equity tier 1 capital to 70% or 80%.In other corporate news, SoftwareOne (SWON.SW) dropped 2.97% as it set out its financial targets for 2030 at its capital markets day. The Swiss software and cloud technology group is targeting a high-single-digit revenue compound annual growth rate and a dividend payout ratio of between 30% and 50% of its net profit.
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.
The Swiss Market Index closed Friday's session 0.35% higher as investors reacted to the latest US labor market data ahead of monetary policy decisions from several major central banks.US nonfarm payrolls rose by 172,000 jobs in May after an upwardly revised increase of 179,000 in April, the country's Bureau of Labor Statistics said, exceeding the consensus of 85,000. Meanwhile, the unemployment rate remained at 4.3% for a third consecutive month, in line with estimates."The recent upward inflection in employment was not big enough to lower the unemployment rate... However, if employment growth sustains its recent pace, the limited supply of workers following President Trump's crackdown on immigration will likely cause it to tighten quickly," Berenberg noted.Back home, Switzerland's foreign currency reserves fell to 710.82 billion francs in May from the revised 715.81 billion francs in April, data from the Swiss National Bank (SNBN.SW) showed.In other news, the Swiss Federal Council "strongly rejects" the allegations made in the US government's Section 301 investigation into imports of goods made with forced labor, adding that it will restate its arguments in writing. The US Trade Representative proposed a 12.5% flat-rate additional tariff on countries such as Switzerland, although the recommendation will not take effect immediately.The Federal Council added that it will continue trade talks with the US. "In the negotiations, the Federal Council is taking current developments into account and is seeking an outcome that will provide a satisfactory long-term framework for economic relations between the two countries, irrespective of legal and political developments in the US."On the corporate front, Givaudan (GIVN.SW) agreed to buy a majority stake in Spanish pure-play fragrance house Eurofragance for an undisclosed sum. Closing is subject to regulatory processes. The Swiss flavors and fragrances group gained 1.06% at close.In geopolitical news, tensions between Iran and the US escalated after Tehran said it fired warning missiles and drones toward US naval vessels in the Gulf of Oman, alleging interference with shipping routes and the seizure of oil tankers. In Oman, officials said the Mina al Fahal oil export terminal was operating normally, downplaying reports of any disruption to flows.
The Swiss Market Index recovered from the previous day's losses, closing Thursday trading 0.93% higher, as inflation remained unchanged ahead of the Swiss National Bank's (SNBN.SW) rate decision on June 18.Switzerland's annual inflation rate was stable at 0.6% in May 2026, data from the Federal Statistical Office showed, below the consensus estimate of 0.8%. The latest reading marks the fastest rise since December 2024. On a monthly basis, consumer prices rose 0.2%, compared with the previous and expected growth of 0.3%, amid increasing housing rentals and prices in the hotel sector.In other economic news, the country's non-seasonally adjusted unemployment rate held steady at 3% in May, while the seasonally adjusted figure edged up to 3.1% from 3% in April, according to the State Secretariat for Economic Affairs.On the corporate front, Partners Group (PGHN.SW) expects growth in overall net assets under management to be slowed by its evergreen platform by 1% to 2% in the second half of 2026 amid "a period of heightened volatility" across open-ended evergreen fund flows. The private equity group, which gained 3.73%, also forecasts a similar effect for net overall AUM growth in full-year 2027."Partners Group has consistently communicated to clients and market participants that its evergreen vehicles are typically equipped with liquidity limits of up to 5% of [net asset value] per quarter, and that these limits would be enacted whenever redemption activity reached the designed threshold. As a result, [Partners Group Global Value SICAV] will operate the 5% quarterly liquidity limitation. The firm is prepared to enact the respective liquidity limitation mechanism across other funds," the company said.In geopolitical news, the US Department of State said Israel and Lebanon agreed to implement a ceasefire, contingent on a "complete cessation" of attacks by the Iran-backed armed group Hezbollah, among other conditions. However, a Reuters report later indicated Hezbollah has rejected the proposed ceasefire framework, while Israel signaled it does not plan to withdraw troops under the current terms.
Switzerland's annual inflation unexpectedly remained at 0.6% in May, while the country's jobless rate marginally ticked up, according to economic data published Thursday.The annual inflation figure lagged the market forecast of 0.8% but remained at the highest level since December 2024 as lingering tensions in the Middle East continue to prop up energy costs. Similarly, the 0.2% monthly uptick was behind the prior month's and expected 0.3% gain.According to the country's Federal Statistical Office, the yearly increase was largely due to a spike in housing, energy and transport costs. Meanwhile, the month-over-month result was driven by rising prices in the hotel sector and higher housing rental costs.Excluding volatile items such as fresh and seasonal products, energy and fuel, annual inflation still stood at 0.3%, unchanged from the previous month. Meanwhile, core inflation moved month over month to 0.1% from zero growth.Swiss inflation still sits within the 0% to 2% target range of the Swiss National Bank (SNBN.SW), which is scheduled to release a monetary policy update on June 18. During the SNB's March meeting, the policy rate remained unchanged at 0% but the central bank raised its conditional inflation forecast for 2026 to 0.5% from 0.3%.On the employment front, data from the State Secretariat for Economic Affairs showed that the Swiss seasonally adjusted unemployment rate rose to 3.1% in May from 3% a month earlier. The total number of registered jobless individuals climbed to 144,652, representing a monthly increase of 2,583.
Switzerland's seasonally adjusted unemployment rate increased 3.1% in May from 3% a month ago, according to data from the State Secretariat for Economic Affairs published Thursday.At the end of May, 144,652 individuals were registered as unemployed, up by 2,583 from a month ago.
Switzerland's annual inflation rate stood at 0.6% in May, unchanged from the previous month, according to data from the country's Federal Statistical Office published Thursday.The consensus estimate for the month was 0.8%.On a monthly basis, consumer prices were 0.2% higher, compared with the prior and expected 0.3% gain.
The Swiss Market Index ended Wednesday trading 0.66% lower after the US and Iran exchanged fresh strikes overnight, dampening investor sentiment and casting doubt on the prospects for a temporary peace deal.The US Central Command said US forces launched "self-defense strikes" on Qeshm Island in the Strait of Hormuz "in response to attempted attacks by Iran across the Middle East." It added that Tehran fired missiles at Kuwait and Bahrain, which broke apart or were immediately intercepted. Meanwhile, Iran's foreign ministry "strongly condemned" the US attack on the Iranian tanker and Qeshm, Bloomberg News reported.In trade news, Switzerland is one of the 60 countries facing additional US tariffs following an investigation into imports of goods allegedly made with forced labor. The proposed additional duties range from 10% to 12.5%."[The] results of this investigation indicate that the acts, policies and practices of Switzerland related to the failure to impose and effectively enforce a forced labor import prohibition are unreasonable and burden or restrict U.S. commerce," according to a report by the US Trade Representative.On the corporate front, Partners Group (PGHN.SW) is limiting withdrawals at its $8.6 billion Global Value SICAV fund to 5% of net asset value per quarter, following a surge in redemption requests in the second quarter, Bloomberg News reported, citing a letter to investors it saw. The private equity firm sank 16.33% at close.Meanwhile, Nestlé (NESN.SW), which owns a 49% stake in yfood Labs, agreed to buy the remaining stake in the smart food brand from its founders for an undisclosed sum. The share transfer is expected July 3, subject to customary approvals. The food and beverage giant was down 0.62%.The Swiss government is due to release inflation and labor data on Thursday.
The US on Tuesday proposed additional tariffs on 60 economies, including the European Union, following an investigation into the enforcement of forced labor import prohibitions.As part of a Section 301 investigation, the Office of the US Trade Representative threatened an extra 10% duty on the EU, stemming from findings that the bloc failed to "effectively" block forced labor imports. The proposed tariffs were announced on the same day that the European Parliament's trade committee granted preliminary approval for a trade agreement reached with the US in the third quarter of 2025.The targeted 27-nation bloc joins countries like Canada, Mexico and Pakistan, which will face the 10% tariff rate because they established partial enforcement regimes or have committed to doing so through reciprocal trade agreements. Meanwhile, other economies, including Switzerland, Saudi Arabia, South Africa and the United Arab Emirates, will be hit by a steeper 12.5% tariff rate on failure "to impose and effectively enforce a prohibition on the importation of goods produced with forced labor.""The failure of our most important trading partners to address the importation of goods made with forced labor is unacceptable," said US Trade Representative Jamieson Greer. "This creates a dynamic where American workers are forced to compete globally on an unlevel playing field. We will no longer tolerate this disparity."The United States Trade Representative invited public feedback on the proposal, setting a deadline of July 6 for written comments and scheduling public hearings for July 7.Danske Bank noted that the move clears the path for permanent tariffs to take over when the 10% Section 122 duties expire on July 24. "While the shift in legal basis could still face court challenges, overall tariff levels for now should remain little changed when the authority 'switches' from Section 122 to Section 301," the bank wrote.
The Swiss Market Index closed Tuesday trading flat as investors digested the latest local corporate updates as well as developments in the Middle East.The US Food and Drug Administration accepted Roche's (RO.SW) new drug application for giredestrant on a priority review basis. The investigational treatment is an oral selective estrogen receptor degrader indicated as an adjuvant treatment for adults with estrogen receptor-positive, human epidermal growth factor receptor 2-negative, stage 1, 2, and 3 breast cancer. The drugmaker was down 2.59%.Meanwhile, Bloomberg News reported, citing a source, that UBS Group (UBSG.SW) plans to issue at least $500 million of perpetual Additional Tier 1 bonds, with a potential coupon of 7.5% and a first call date in late 2032. The lender, which rose 1.17%, had no comment when reached by.RBC Capital Markets upgraded its price target and earnings forecasts for Compagnie Financière Richemont (CFR.SW) after the sector perform-rated luxury goods company published its fiscal 2026 financial report."Richemont's 4Q26 confirmed strong Jewellery Maisons revenue momentum (+16%), though earnings uplift was more modest given softer gross margin, higher [operating expenses] (inc one-offs) and tax rate. For FY27E, we expect continued momentum for its Jewellery Maisons (+10%), although [we] do expect price increases to moderate somewhat in line with moderating gross margin headwinds, particularly in 2H27E. Raising revenue estimates by 3% and EPS by 2%, although we remain slightly below consensus. We roll forward our DCF, resulting in a revised [price target] of CHF 175 (from CHF 165)," the research firm said. Richemont edged up 0.66%.In economic news, Switzerland's watch exports tumbled 16.6% year over year to 2.13 billion francs in April, owing to a value decline across nearly all material categories, particularly precious metal watches and steel models, according to the Federation of the Swiss Watch Industry.On the geopolitical front, Tehran is reviewing Washington's proposed temporary agreement to end the conflict in the Middle East, Reuters reported, citing Iran's Mehr News Agency. Iran has not responded to a proposed final text of the deal, according to the report.
Switzerland's watch exports fell 16.6% year over year to 2.13 billion francs in April, due to a value decline across nearly all material categories, particularly precious metal watches and steel models, the Federation of the Swiss Watch Industry said Tuesday.Exports of wristwatches dropped 17.5%, while the other products category rose 5.6%.In the first four months of 2026, overseas shipments decreased 3.9%.
The Swiss Market Index started the week in the red, tumbling 1.75% on Monday's close, as reports of a new source of tensions between the US and Iran overshadowed the releases of the country's gross domestic product and retail sales.Iranian negotiators will suspend talks and the exchange of documents with their US counterparts in protest of Israeli aggression in Lebanon, Bloomberg News reported, citing a statement carried by the semi-official Tasnim news agency. The suspension follows a fresh exchange of fire between Tehran and Washington over the weekend, even as the two sides had been indirectly negotiating terms of a draft deal that would extend their ceasefire agreement by 60 days.Back home and in economic news, Switzerland's final gross domestic product, adjusted for sporting events, rose 0.4% in the first quarter, compared with the flash estimate of a 0.5% increase and the prior quarter's 0.2% rise. The State Secretariat for Economic Affairs attributed the growth to the industrial sector.Meanwhile, Swiss retail sales inched up 0.1% month over month in April, following a revised 0.3% gain in March, data from the Federal Statistical Office showed. In other economic news, the procure.ch-UBS manufacturing PMI climbed to 57.3 in May from 54.5 in April, surpassing the consensus estimate of 54.On the corporate front, Landis+Gyr Group (LAND.SW) confirmed its mid-term estimates through 2028, including a mid-single-digit revenue compound annual growth rate and adjusted EPS CAGR more than 5x the rate of revenue. The Swiss energy technology company was down 1.48%."With the introduction of our new business segments, we are well positioned to capitalize on significant growth opportunities across the evolving energy landscape. Supported by the strongest pipeline in our history and accelerating customer adoption of our technologies, we have built approximately $4 billion in backlog, providing exceptional revenue visibility and underpinning a durable, predictable growth model during this period of generational industry transformation," Chief Executive Officer Peter Mainz said in the company's Capital Markets Day 2026 release.
Switzerland's manufacturing PMI increased to 57.3 in May from 54.5 in April, according to procure.ch and UBS data published Monday.The consensus estimate for the month stood at 54.
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