207 stories mentioning Swiss Market Index (SMI)Updated 29m ago
The Swiss Market Index ended little changed after a preliminary US-Iran deal; Zurich Insurance rose and Swiss consumer confidence slightly improved.
Switzerland's monthly producer and import price index climbed 0.7% in August, after a 0.1% decline in July, data from the country's Federal Statistical Office showed Monday.Analysts expected a 0.1% increase for the month.On a yearly basis, Swiss producer and import prices were 0.7% lower, against the 2.1% drop earlier.
Swiss stocks staged a recovery on Friday, with the Swiss Market Index up 0.26% at the end of the trading session, as investors digested the latest company updates and economic data releases.Government data showed that Switzerland's consumer sentiment index increased to -32.8 points in August from -34.8 points in July. In the previous year, the index stood at -39.9 points. The State Secretariat for Economic Affairs said the separate indices for economic outlook and past financial situation improved year over year, while the indicator for financial outlook and the moment to make major purchases deteriorated.Elsewhere, the UK's gross domestic product grew 0.4% month over month in July, following a 0.3% rise in June, surpassing market forecasts of zero growth.In the US, the annual inflation rate was 3.4% in August, unchanged from the prior month, while annual core inflation ticked down to 2.4% from 2.5%."With [US Federal Reserve Chair] Kevin Warsh warning that inflation has been above target for too long in an environment where the economy is at full employment and financial conditions aren't restrictive, there should be a decent majority of FOMC members backing a hike," ING said. "Markets don't expect them to stop there, with Fed funds futures looking at potentially three further rate hikes over the next 12 months. We are not in that camp. If we see an improvement in energy flows from the Strait of Hormuz in coming months, fears of a renewed upswing in inflation will likely be proved wrong."Back home and in corporate news, Zurich Insurance Group (ZURN.SW) reportedly provided insurance coverage to iron ore trader Radiant World against non-payment from several trading counterparties, sources told London's Financial Times. The beleaguered trader is facing court claims from creditors in the UK and Singapore over alleged fraudulent trading documentation. In an emailed statement, the Swiss insurer toldit "does not have any material exposure to Radiant World." At closing, Zurich's shares were 0.51% in the green.Stadler Rail (SRAIL.SW) is investing over 14 billion Kazakhstani tenge to expand its Stadler Kazakhstan unit's production site in the country's capital of Astana by establishing an automated facility focused on manufacturing aluminum rail vehicle bodies. The train manufacturer's stock ended the trading day 2.86% higher.
The International Energy Agency expects global oil demand in 2026 to fall more than previously forecast, amid continued supply disruptions and a delay in the anticipated oil flow normalization into the next year due to stalled negotiations between the US and Iran to end the war in the Middle East.In its September oil market report published Friday, the IEA said global oil demand is now projected to decrease by 2.5 million barrels per day on average this year, 940,000 barrels per day higher than its forecast a month ago, as persistently high fuel prices weigh on consumption. The pace of decline in demand, however, is estimated to ease in the third and fourth quarters before, after which demand is expected to recover by 2.6 million barrels of oil per day in 2027Meanwhile, global supply is now projected to drop by 5.7 million barrels of oil per day in 2026, to 100.7 million barrels per day on average, before rebounding in the next year."Inventories have so far played a crucial role in balancing the market. Since the start of the war, global observed oil inventories have fallen by 507 mb, equal to an average draw of 2.8 mb/d. August alone saw stocks fall by a steep 95 mb, or 3.1 mb/d," the IEA noted. "With buffers shrinking and the global refining system stretched to the limit, the need for progress in resolving the conflict in the Middle East - and the Russia-Ukraine war, which is now in its fifth year - is greater than ever to avoid further market tightening and demand destruction."
Switzerland's consumer sentiment index rose to -32.8 points in August from -34.8 points in July, according to data from the State Secretariat for Economic Affairs published Friday.Analysts expected -33 points for the month.In the previous year, the index stood at -39.9 points.
The blue-chip Swiss Market Index remained in the red on Thursday, closing 0.47% lower, as investors turned their attention to the European Central Bank's latest monetary policy decision amid yet another day of local economic news.The ECB raised its three key interest rates by 25 basis points, as widely expected, citing higher inflationary risks amid higher energy prices as the war in the Middle East drags on. The deposit facility rate will increase to 2.50%, while the interest rates on main refinancing operations and the marginal lending facility will stand at 2.65% and 2.90%, respectively, effective Sept. 16. Baseline inflation projections for 2027 and 2028 were also upwardly revised."With the latest developments, today's rate hike was almost a no-brainer and not controversial. In light of higher actual and projected headline inflation, bringing the policy rate to the upper end of the range that the ECB itself calls 'neutral' did not pose any risk of being too activist or too restrictive. The harm of doing nothing, at least for the ECB's credibility, is clearly larger. However, looking beyond today's hike paints a very different picture and is much more complicated," ING said in a quick take note. "Going further would mean that the ECB sees restrictive monetary policy as necessary. But there is a big difference between an economy that has shown resilience, and an overheating economy that needs restrictive monetary policy."The KOF Swiss Economic Institute's global economic barometers both improved in September, with the coincident barometer rising 1.4 points to 104.6 points, recovering from the previous month's decline, and the leading barometer increasing 1.4 points to 105.9 points."Not only are all regions distinguished in the coincident barometer above average this month, but so are all sectors. The last time this occurred was in March 2022, during the post-pandemic boom. A similar situation prevails for the leading indicator. To find a comparable, consistently positive outlook, we have to go back 4.5 years. The difference is that, at that time, the indicators were coming down from a high," according to KOF director Jan-Egbert Sturm. "Today, however, despite ongoing geopolitical turmoil, they indicate that the world economy has been improving cyclically for six months now."Back home and on the corporate front, UBS Group (UBSG.SW) will cease its Shenzhen-based funds sales business in China by the end of September, Reuters reported, citing a company statement. Sources told the news outlet that the Swiss banking group's WE.UBS unit struggled in the domestic mutual fund distribution market as it faced competition from nearly 400 rivals and weak investor demand. The stock closed the trading session 1.39% lower.Meanwhile, the US Food and Drug Administration granted priority review status to Roche's (RO.SW) supplemental biologics license application for Enspryng for treating myelin oligodendrocyte glycoprotein antibody-associated disease, or MOGAD, following positive results from the late-stage Meteoroid study. The Swiss drugmaker expects the regulator to decide on the approval by Jan. 10, 2027. At closing, Roche's shares were 1.01% in the red.
The KOF Swiss Economic Institute's global economic barometers rose in September, indicating a "moderate" rate of economic growth worldwide.The coincident global barometer rose 1.4 points to 104.6 points, recovering from the previous month's decline, while the leading barometer moved up 1.4 points to 105.9 points, according to a Thursday release.The increase in both barometers was largely attributed to the positive contribution from the Asia, Pacific and Africa region.
Swiss stocks extended their losses to a third day, with the Swiss Market Index down 1.80% on Wednesday's close, amid escalating geopolitical tensions in the Middle East and another quiet day of economic news domestically."The US carried out additional strikes on Iranian oil tankers near Kharg Island, hitting 5 vessels in response to Iran attempting to strike a US Navy warship. This resulted in Iran firing ballistic missiles towards Jordan, while also warning vessels in the Persian Gulf could be targeted," according to commodities strategists at ING. "Recent developments only reinforce the view that we're still some way from a restart in talks. In the meantime, the market is likely to continue to price in a sizeable risk premium."Back home, Switzerland's Federal Council opened a consultation on amendments to the country's Military Act and Army Organization Act, including the establishment of the legal basis for the armed forces' new command structure, to bolster defense capabilities amid the deteriorating global security situation.Meanwhile, the Swiss government sold two series of confederation bonds worth nearly 369 million francs in a reopening at an auction, with settlement scheduled for Sept. 23, 2026. The 0.875% and 0.5% bonds are due June 24, 2041, and May 30, 2058, respectively.On the corporate front, DocMorris (DOCM.SW), through its DocMorris Finance subsidiary, launched a private placement of senior unsecured bonds due 2031 worth 100 million francs, with incremental proceeds of 10 million francs from the transaction intended for general corporate needs. The Swiss online pharmacy's stock jumped 6.57% at closing."DocMorris continuously seeks to optimise its balance sheet and funding costs to support its strategy and deliver sustainable and profitable growth. With today's transaction, the Company intends to reduce potential future dilution for shareholders arising from its outstanding CHF 49.6 million convertible bond due in August 2028," the company said. "By repurchasing the 2028 Bonds through privately negotiated bilateral transactions with certain holders and issuing the New Bonds, DocMorris intends to take advantage of its recent share price performance to extend the maturity of the 2028 Bonds by 2.6 years, materially lower its ongoing coupon cost and reduce the overall number of shares to potentially be used upon conversion."Nestlé (NESN.SW) is boosting its pet food manufacturing capacity in Thailand by investing over 157 million francs, which will be focused on the production facility of its Purina brand in Rayong, to help meet rising demand for high-quality pet nutrition. At the end of the trading session, the Swiss consumer goods giant's shares were down 3.31%.
The Swiss Market Index remained in negative territory on Tuesday, closing 1.55% lower, as investors assessed a fresh batch of company updates amid a quiet day of local economic news.Pharmaceutical major Novartis (NOVN.SW) dropped 10.89% after reporting that its phase 3 Harbor study evaluating delpacibart etedesiran, or del-desiran, in patients with myotonic dystrophy type 1 missed its primary endpoint. The investigational drug failed to demonstrate a statistically significant improvement in video hand opening time in the progressive neuromuscular disease, compared with placebo."Release states PIII HARBOR trial for del-desiran in DM1 missed its primary endpoint of change in vHOT at 54 weeks, though showed clinical activity on secondary endpoints and in exploratory analyses. Full data analysis to determine path forward - we think detailed data possibly NMSG (Sep 25-27th) or World Muscle (29th Sep-3rd Oct). Despite miss, release states that NVS maintains its target 5-6% FY25-30 sales CAGR," said analysts at BofA Global Research. "Post pelcarsen del-des failures, detailed Remi MS data (MS Toronto 23rd Oct) now needs to be towards the upside case."Meanwhile, Sandoz Group (SDZ.SW) hosted its capital markets day, saying it aims to achieve a mid-to-high single-digit compound annual growth in net sales at constant currencies between 2025 and 2030, more than doubling its net sales over the period. The new targets are underpinned by the Swiss drugmaker's goal to increase the number of its biosimilars in the portfolio to more than 100 by 2040 from the current total of 13, as it enters its "golden decade" for biosimilars. The stock shed 0.06% at closing."We have mixed takeaways from the initial targets, which we see as ambitious longer-term but mid-term margin targets look light vs consensus/RBCe. The mid-term sales target for mid-to-high single digit CAGR to 2030 is in-line to ahead, but the Core EBITDA margin target of 25-27% by 2030 is light, and is only modest margin expansion vs the current 2028 target of 24-26%," according to RBC Capital Markets. "That said, the 2035 targets are more ambitious and show an expected acceleration through the early 2030s, a rich period for new biosimilar launches."In other news, average electricity prices for typical households in Switzerland will decline by 4% to 0.265 francs per kilowatt-hour in 2027, compared with the previous year, mainly due to lower energy procurement costs, according to the Federal Electricity Commission.On the defense front, the Federal Office for Defence Procurement, or armasuisse, is participating in a research project of the European Defence Agency to develop portable fuel cells for use by the armed forces and for other mobile applications. The move is also part of the Swiss government's armament policy strategy and efforts to strengthen its ties with European partner states.
The Swiss Confederation intends to auction two new bonds on Wednesday, according to a Tuesday release.The planned offering comprises a 0.875% bond due June 24, 2041, and 0.5% bonds maturing May 30, 2058.The amount of the bond reopening will be determined after the submission of bids.
Swiss equities welcomed the new trading week on a somber note, with the Swiss Market Index down 0.81% on Monday's close, as investors took stock of the latest data prints related to the labor market and economy.The unemployment rate in Switzerland stood at 3% in August, unchanged from the previous month, data from the State Secretariat for Economic Affairs showed. The number of unemployed people rose by 2,268 month over month to 141,544.Meanwhile, the country's foreign currency reserves increased to 770.07 billion francs in August from the revised 768.14 billion francs in July, according to data from the Swiss National Bank (SNBN.SW).Zooming out to the euro area, its seasonally adjusted gross domestic product rose 0.6% in the second quarter after zero growth in the previous quarter, Eurostat's third estimate showed. On the jobs front, the number of employed individuals in the region ticked up 0.1% in the second quarter, following a 0.1% rise in the prior three-month period.Over to corporates, Novartis (NOVN.SW) announced that the phase 3 Lp(a)Horizon trial evaluating pelacarsen in patients with elevated lipoprotein (a) levels and established cardiovascular disease missed its primary endpoint of lowering the risk of cardiovascular events, compared with placebo. Specifically, the endpoint involves a composite of cardiovascular death, non-fatal myocardial infarction and stroke, and urgent coronary revascularization requiring hospitalization. The stock closed the trading session 3.18% in the red."PR notes reduction of Lp(a) levels was achieved but did not translate into CV risk reduction. Trial was perceived as higher risk by us and investors and was least important of the 2H26 catalysts. We have a risk-adj. peak sales of c$1.5bn (slightly below VA cons at c$1.7bn), removal of which sees low single digit %NPV downside," analysts at BofA Global Research said.Deutsche Bank Research lifted its price target for Accelleron Industries (ACLN.SW) to 76 francs from 74 francs, with a hold rating on the stock, as it updated its forecasts in line with the turbocharging technologies company's guidance amid first-half results that came in "broadly consistent" with industry peers. At closing, Accelleron's shares fell 0.39%."Data-centre exposure remains the most compelling growth opportunity for the company, although it is still relatively small for the group with management also highlighting strong merchant-marine newbuild activity. Management's guidance for FY26 revenue growth increased by +4% while the margin outlook was unchanged. H1 growth was predominantly volume-led with limited underlying price contribution," Deutsche Bank noted.
Switzerland's unemployment rate stood at 3% in August for the second month in a row, according to data from the State Secretariat for Economic Affairs published Monday.At the end of August, 141,544 individuals were registered as unemployed, up by 2,268 from a month ago.
Swiss stocks were flat at the end of the week, with the Swiss Market Index up 0.01% on Friday's close, as investors assessed the latest business surveys and economy-related data releases across key markets.Provisional data from Switzerland's Federal Statistical Office showed that the country's hotel sector recorded 5 million overnight stays in July, up 0.5% year over year. Hotel bookings by domestic guests increased 3.9% on an annual basis, while those from foreigners fell 2.4%.Across the pond, the unemployment rate in the US held steady at 4.1% in August, data from the country's Bureau of Labor Statistics showed, in line with market forecasts."The US added 162,000 jobs in August, above all expectations in the market, with an additional 55,000 of upward revisions to the past two months. With Fed Chair Kevin Warsh describing the US at full employment, this outcome has nudged expectations of a September rate hike higher, but the final decision hangs on next Friday's inflation print," ING said. "The unemployment rate remains unchanged at 4.1% despite an improvement in the participation rate. Wage growth is benign, rising 3.1% year-on-year."On the corporate front, Aevis Victoria (AEVS.SW) placed a total of 1 million shares at 12.40 francs apiece with a long-term institutional investor, for a total consideration of 12.4 million francs. The shares were placed by a former board member of the Swiss investment company and a nonexecutive board member. The stock was 3.11% in the red at closing.RBC Capital Markets expects Sandoz Group (SDZ.SW) to unveil new midterm targets at its upcoming Sept. 8 capital markets day and potential announcements on launch timings of its biosimilars pipeline following the Swiss drugmaker's recent partnership with Henlius. At the end of Friday's trading, Sandoz shares shed 2.84%."Current 2023-2028 mid-term targets are for mid-single digit sales CAGR and 2028 Core EBITDA margin of 24-26%. New targets should capture the start of the 2029+ biosimilar pipeline opportunity and for 2026-2031, consensus models 6% sales CAGR and a 27% 2031 Core EBITDA margin. Simply reiterating a mid-single digit mid-term revenue CAGR target would be underwhelming and could see a negative stock reaction," the research firm said. "We anticipate the company is more likely to point to growth acceleration post-2028. Targeting mid-to high-single digit revenue CAGR 2026-2031 would likely be viewed positively, with a 5-year 7% sales CAGR implying 5% upside to consensus 2031 sales and high-single digit % upside to consensus 2031 EPS."
Switzerland's hotel sector recorded a 0.5% year-over-year rise in overnight stays in July, according to provisional figures from the Federal Statistical Office published Friday.Hotel bookings by Swiss nationals increased 3.9% on a yearly basis, while bookings from foreigners fell 2.4%.From January to July, hotels in the country reported a 0.5% annual decrease in overnight stays.
The blue-chip Swiss Market Index extended its gains on Thursday, ending the trading session 0.22% higher, as the domestic economy grew in the second quarter of 2026 at the strongest rate since the third quarter of 2021.Switzerland's seasonally and sporting event-adjusted gross domestic product rose 1.5% in the second quarter, after a revised 0.5% gain in the prior three-month period, consistent with the flash estimate, final data from the State Secretariat for Economic Affairs SECO showed."Value added in the industrial sector (+3.9%) increased strongly in the second quarter, driven mainly by manufacturing (+4.5%). After several quarters of weak or, in some cases, negative growth, the chemical and pharmaceutical industry (+10.5%) expanded sharply, reflecting higher exports and sales. Growth in the rest of manufacturing (+0.7%) was moderate, although developments varied across individual sub-sectors," SECO said. "Overall, goods exports (+5.5%) increased at an above-average rate."Meanwhile, the Swiss annual inflation rate accelerated to 0.8% in August from 0.4% in July, according to data from the Federal Statistical Office. The latest reading is above the market forecast of 0.5%. On a monthly basis, consumer prices were up 0.4%, against the previous month's 0.1% downtick.In corporate news, Deutsche Bank Research raised its price target for Givaudan (GIVN.SW) to 3,700 francs from 3,650 francs, with a buy rating on the stock, amid a model update following the Swiss flavors and fragrances group's summer investor conference and discussions with the company. Givaudan's shares closed 2.40% in the green."[We] have made modest earnings upgrades to reflect the continued strong momentum in Fragrance & Beauty (F&B) and expected sequential improvement in Taste & Wellbeing (T&W) going into H2. We have increased our Q3 26 OSG forecast from 4.6% to 5.6%, the highest expected Q3 growth rate among F&F peers and above the VA consensus of 4.5%," the research firm noted. "We slightly raise our FY OSG forecast to 4.4% (from 4.1%), with OSG upgrades flowing through to EBITDA."Nestlé (NESN.SW) will build a new infant formula manufacturing facility in Ituiutaba, Brazil, as part of plans to invest 310 million francs in its nutrition and health business in the South American country by 2028. The consumer goods giant will set aside 94 million francs for the construction of the new facility, which is anticipated to be operational in the second quarter of 2028. At closing, the stock was down 1%.
Switzerland's economy expanded in the second quarter of 2026 at the strongest rate since the third quarter of 2021, largely driven by the positive contribution from the chemical and pharmaceutical sector.Switzerland's seasonally and sporting event-adjusted gross domestic product rose 1.5% in the second quarter, following a revised 0.5% rise in the prior three-month period, according to final data from the State Secretariat for Economic Affairs SECO published Thursday. The latest reading is in line with the flash estimate.Not adjusted for sports events, the quarterly GDP grew 1.9%, against the revised 0.6% increase previously.On a yearly basis, the country's sport event-adjusted GDP increased 2.3% during the three-month period, against the revised 0.4% gain earlier. Not adjusted for sports events, the Swiss economy grew 2.8%, following the prior 0.5% rise."The chemical and pharmaceutical industry made the largest contribution to growth, while value added also increased across a wide range of other sectors. Domestic demand recovered after a weak start to the year," SECO said. "After several quarters of weak or, in some cases, negative growth, the chemical and pharmaceutical industry (+10.5%) expanded sharply, reflecting higher exports and sales."Meanwhile, the annual inflation rate in Switzerland accelerated to 0.8% in August from 0.4% in July, data from the country's Federal Statistical Office showed. Analysts expected a 0.5% rise for the month. On a monthly basis, consumer prices were up 0.4%, against the expected zero growth and the prior month's 0.1% downtick.Excluding volatile items such as fresh and seasonal products, energy, and fuel, annual inflation edged up 0.4%.The FSO mainly attributed the month-over-month increase to several factors, including rising housing rentals and higher prices for petrol, diesel and heating oil. On the other hand, prices for international package holidays, car rentals and car sharing declined during the month, along with prices for supplementary accommodation.
Switzerland's seasonally and sporting event-adjusted gross domestic product increased 1.5% in the second quarter, following a revised 0.5% uptick in the previous three-month period, final data from the State Secretariat for Economic Affairs showed Thursday.The final reading was in line with the flash data. Not adjusted for sports events, the quarterly GDP was 1.9% higher, against the revised 0.6% increase in the prior three-month period.On a yearly basis, the sport event-adjusted GDP climbed 2.3% during the three-month period, against the revised 0.4% gain earlier. Not adjusted for sports events, Swiss GDP increased 2.8%, following the prior 0.5% rise.
Switzerland's annual inflation rate stood at 0.8% in August, up from 0.4% in the previous month, according to data from the country's Federal Statistical Office published Thursday.The consensus estimate for the month was 0.5%.On a monthly basis, consumer prices were 0.4% higher, compared with the expected zero growth and the prior month's 0.1% drop.
Swiss stocks remained in the green on Wednesday, with the Swiss Market Index up 0.20% at closing, as investors assessed the latest company releases and geopolitical developments in the Middle East."The US had earlier warned of retaliation for Iranian missiles launched against a US military base in Jordan over the weekend and [President Donald] Trump posted that if 'Iran retaliates for this very justified attack, they will be hit again at a much harder and higher level'. Iran then responded with what it called a 'decisive operation' against US bases in the region, with local media reporting more missile interceptions in Jordan," according to analysts at Deutsche Bank Research. "As a reminder, the renewed escalation has come as Iran has tried to target ships transiting the Strait of Hormuz by going dark, with the US in turn seeking to degrade Iran's ability to disrupt these flows."Back home, the Swiss Federal Council launched a consultation on Switzerland's agricultural policy from 2030 onward as part of efforts to bolster food security in the country, with proposed measures including improving crop protection and providing additional funding for sustainable technologies. The consultation will run until Dec. 8.Meanwhile, the Swiss government appointed Christoph Ammann as president of the Swiss National Bank's (SNBN.SW) Bank Council, succeeding Barbara Janom Steiner, effective May 1, 2027. Marc Mächler was named vice president.Over to corporates, Nestlé (NESN.SW) agreed to sell its mainstream vitamins, minerals and supplements business to US private equity firm Yellow Wood Partners for $1 billion. The transaction, which is anticipated to complete by the first half of 2027, covers seven brands and the associated private-label supplements business in the US, along with dedicated manufacturing, packaging, warehousing and distribution operations. The Swiss consumer goods giant's shares rose 0.15% at closing."This is another important step in the strategic transformation of our portfolio. We are focusing our resources where we have the strongest competitive advantage. With Nestlé's strong innovation and brand-building capabilities, we are well positioned for growth in the premium, science-led [vitamins, minerals and supplements] space, where brands such as Solgar and Pure Encapsulations continue to perform strongly," Nestlé Chief Executive Officer Philipp Navratil said.Novartis (NOVN.SW) will discontinue small-volume biologics production at its Kleinbasel site in Switzerland by 2027-end, potentially affecting 130 jobs, and relocate laboratories supporting biological cell banks, analytical testing and technical development activities there to its campus in Basel by the end of 2028. The move is part of the Swiss pharmaceutical major's wider plan to establish a new biologics technical development center on the Basel campus. The stock closed the trading session 0.27% higher.
The Swiss Market Index recovered on Tuesday, closing 0.34% higher, amid a barrage of business surveys, company updates and economic data prints.Switzerland's manufacturing PMI climbed to 57.1 in August from 53.2 in July, supported by an increase in production, order backlogs and purchasing activity, according to procure.ch and UBS data. The latest reading also marks the sixth straight month the index came in above the growth threshold of 50.On the retail front, data from the Federal Statistical Office showed that seasonally adjusted retail sales in the country ticked up 0.1% month over month in real terms in July, following a revised 0.3% increase in June.Zooming out to the euro area, the annual inflation rate accelerated to 3.3% in August from 2.9% in July, while the annual core inflation rate ticked down to 2.4% from 2.5%, Eurostat's flash data showed.Over to corporates, Novartis (NOVN.SW) reported that its phase 3 Remodel-1/-2 trials for remibrutinib met their primary endpoint of "significantly" reducing annualized relapse rate in adult patients with relapsing multiple sclerosis, compared with teriflunomide, without liver safety issues. The oral Bruton's tyrosine kinase inhibitor also showed "clinically meaningful" reductions, against teriflunomide, in key secondary endpoints related to disability progression. The Swiss drugmaker's stock added 6.25% at closing."We forecast $3bn un-risk adjusted peak sales for remi, with upside potential based on exact progression data The positive remi MS data likely increases investor conviction in remi's potential as a [greater than] $10bn asset across indications (CSU, CINDU, MS, HS data 4Q26, MG PIII FY28, Food Allergy PIII started). An anchor, large asset supports growth profile through patent cliff," analysts at BofA Global Research said in a note. "We model a total $26bn MS market and see potential for BTKi's to replace most existing orals (c$7bn) due to better efficacy, and potential to compete in certain settings vs CD20s (c$15bn)."UBS Group (UBSG.SW) acknowledged recommendations from the Swiss parliament's Economic Affairs and Taxation Committee of the upper chamber offering alternatives to the Federal Council's "extreme" banking regulation proposals, requiring the group's parent bank UBS AG to hold 50% common equity Tier 1 capital and up to 50% additional Tier 1 capital, up from the current 45% and 15%, respectively. However, the group warned that the recommendations would still lead to "a significant increase in costs" for the banking group.Meanwhile, Swiss Finance Minister Karin Keller-Sutter criticized the committee's plan to soften the substantial new capital requirements to be imposed on UBS. At the end of trading, UBS shares declined 0.32%.
Switzerland's manufacturing PMI increased to 57.1 in August from 53.2 in July, according to procure.ch and UBS data published Tuesday.The consensus estimate for the month stood at 54.1.
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