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.
The number of employed people in Switzerland grew by 0.8% year over year in the second quarter, the Federal Statistical Office said Tuesday.The Swiss unemployment rate, as defined by the International Labour Organization, increased to 4.9% from 4.6% a year ago, according to the latest Swiss Labour Force Survey.On a seasonally adjusted basis, Switzerland's quarterly unemployment rate was up to 5.1% from 5% in the previous quarter.
Swiss equities welcomed the new trading week on a somber note, with the Swiss Market Index down 0.61% on Monday's close, as the fragile 60-day US-Iran ceasefire agreement expires amid stalled negotiations.President Donald Trump also threatened to bomb Oman, which has been in talks with Iran over the reopening of the Strait of Hormuz, if it "gets in the way," CNBC and other media outlets reported.Back home, private-sector businesses in Switzerland expect to see an average nominal wage growth of 1.2% in 2027, 1.3% lower year over year, according to a July 2026 survey by the KOF Swiss Economic Institute. Should the KOF's latest forecast of a 0.5% rise in inflation over the next 12 months materialize, companies anticipate the nominal 1.2% wage growth to result in a "respectable" real increase of 0.7% by historical standards."The decline in wage expectations is likely to reflect two main developments. On the one hand, the situation on the Swiss labour market has been steadily deteriorating since 2023: seasonally adjusted unemployment rose slightly, and the shortage of skilled workers has eased further. In 2025, employment grew only marginally," the KOF said. "On the other hand, consumer price inflation fell again last year and was at times close to zero. Although inflation has since risen slightly again due to the war in Iran, there is nevertheless less need this year to adjust wages in line with past inflation."In corporate news, Hiag Immobilien (HIAG.SW) booked 85 million francs in net income for the first half, higher than the year-ago 44.6 million francs, while total operating income surged to 158.6 million francs from 75 million francs. For full-year 2026, the Swiss real estate company expressed confidence in achieving another "outstanding" result following record figures a year before. The stock closed the session 1.88% lower.Sandoz Group (SDZ.SW) signed an expanded collaboration agreement with biopharmaceutical company Shanghai Henlius Biotech covering up to 10 biosimilars, with the milestone-based deal having a total consideration of up to $322 million. The Swiss pharmaceutical major noted that the strategic partnership will bring the number of assets in its biosimilar pipeline to 39, potentially increasing to up to 46."We see the agreement with Henlius as a positive step to further expanding the biosimilar pipeline. The agreement includes biosimilars of Erbitux (cetuximab), Benlysta (belimumab) and Repatha (evolocumab), which cover near-term LoEs with limited visible biosimilar competition. This agreement with Henlius in combination with its agreement in March with Samsung demonstrates Sandoz's leading position as a commercialisation partner in biosimilars," according to analysts at RBC Capital Markets. Sandoz's shares gained 2.60% at closing.
Hotels in Switzerland recorded a 0.3% year-over-year rise in overnight stays for July, according to a flash estimate published by the Federal Statistical Office on Monday.Hotel bookings by Swiss nationals rose 3.8% on an annual basis, while bookings from foreigners fell 2.6%.
Swiss companies anticipate the forthcoming round of wage negotiations to deliver a "respectable" increase in wages in real terms by historical standards, according to a survey by the KOF Swiss Economic Institute published Monday.In July 2026, private-sector businesses in Switzerland expect to see an average nominal wage growth of 1.2% in 2027, 1.3% lower year over year. Should the KOF's latest forecast of a 0.5% rise in inflation over the next 12 months materialize, businesses anticipate the nominal 1.2% wage growth to result in a real increase of 0.7%.The construction industry is projected to see the highest wage growth, both in nominal and real terms, compared with a year ago, amid "significant" variations in wage growth expectations between sectors.
The blue-chip Swiss Market Index concluded the trading week in negative territory, down 0.58% on Friday's close, as investors assessed the latest economic data prints and company updates, alongside geopolitical developments in the Middle East.Switzerland's seasonally and sport event-adjusted gross domestic product expanded by 1.5% in the second quarter, supported by growth in both the industrial and services sectors, provisional government data showed. In the first quarter, GDP adjusted for sporting events grew 0.4%.On the defense front, the government said the production of the Swiss F-35A combat aircraft is proceeding as planned, with the first fuselage section and wing assembled in Cameri, Italy, which is part of the international production network of the F-35 program. Assembly of the aircraft's structural elements and other components will take place in the Lockheed Martin plant in Texas, US.Meanwhile, US President Donald Trump signed a proclamation imposing ad valorem tariffs of up to 100% on imports of drones and their components. Switzerland, Liechtenstein and the European Union were among countries facing a 25% tariff, whereas a 10% rate will be imposed on drones from the UK. "The tariffs will take effect 21 days after signing. For components of drones that are not particularly sensitive, the tariffs will take effect 180 days after signing," the White House said.On the corporate side, VZ Group (VZN.SW) added 7.74% at closing as it booked a year-over-year increase in first-half total revenue to 316.5 million francs from 277.9 million francs, bolstered by higher revenue from assets under management, while the financial advisory services group's net profit jumped 17.7% to 131.9 million francs."Demand for first-class financial advice continues to rise and is set to underpin the growth of our business in the coming years. Provided that the financial markets remain stable, we expect growth rates in the second half of the year to be similar to those in the first half. Shareholders can expect the dividend to rise once again in line with profit growth," Chief Executive Officer Giulio Vitarelli said.Swiss telecommunications company Mobilezone (MOZN.SW), which also reported first-half results, announced that Chief Operating Officer Lars Keller will leave the company by Nov. 30. The stock closed the session 0.58% higher.In geopolitical news, US officials said the country is capable of continuing its naval blockade of Iran "indefinitely" and intends to step up its economic pressure on Tehran.
(Updates to add information)Switzerland's seasonally and sporting event-adjusted gross domestic product climbed 1.5% in the second quarter, provisional data from the State Secretariat for Economic Affairs showed Friday.The expansion was mainly attributed to the industrial sector, specifically chemicals and pharmaceuticals, alongside the service sector.In the first quarter, GDP adjusted for sporting events was up 0.4%.
Switzerland's seasonally and sporting event-adjusted gross domestic product climbed 1.5% in the second quarter, provisional data from the State Secretariat for Economic Affairs showed Friday.The expansion was mainly attributed to the industrial sector, specifically chemicals and pharmaceuticals, alongside the service sector.
The Swiss Market Index staged a recovery on Thursday, ending the trading session 0.18% higher, amid a busy day of corporate earnings and economy-related data releases.Switzerland's producer and import price index declined by 0.1% month over month in July and by 2.1% on a yearly basis to 99.6 points, according to data from the Federal Statistical Office.Zooming out to the UK, the country's gross domestic product grew 0.4% in the second quarter, in line with market forecasts, following a 0.6% rise in the prior-three-month period.Over to corporates, Montana Aerospace's (AERO.SW) first-half consolidated net sales jumped to 518.4 million euros from the restated 464 million euros a year before, while result for the period surged to 29.7 million euros from the restated 6.4 million euros. The aerospace alloys company expressed continued confidence in achieving "sustainable profitable growth" through the remainder of 2026 and into 2027. The stock closed the session 1.93% higher."Montana Aerospace achieved a strong level of net sales growth in Q2, with Aerostructures net sales accelerating to 21% yoy - reflecting higher aircraft build rates versus 6% growth in Q1. The company appears well placed to meet its full-year guidance given the traditional seasonality, in our view; H1 2026 revenue equates to 50% of our forecast FY estimate, versus 47% at this stage last year. Guidance is unchanged for 2026 and 2027," Berenberg said in a flash note. "The company continues to guide to cEUR150m of total proceeds from the divestment of its Energy segment; net debt fell by EUR8.6m versus Q1 to EUR64.7m given no large proceeds were received in Q2, and the company guides to further proceeds being received in H2."Meanwhile, Swissquote Group (SQN.SW) saw its shares drop 13.98% after reporting a year-over-year decline in net profit for the six months ended June 30 to 153.6 million francs from 158.2 million francs due to higher depreciation costs and marketing expenses. Net revenue, in contrast, rose 1.7% to 364.2 million francs. For 2026, the banking group lowered its net revenue and pretax profit guidance to 730 million francs and 365 million francs, respectively, from the previous forecasts of 760 million francs and 385 million francs.In geopolitical news, Iran's Persian Gulf Strait Authority disputed President Donald Trump's claims that the US has "total control" over the Strait of Hormuz, saying the strait "remains blocked and will not be reopened until Iran's conditions are accepted," CNBC and other news outlets reported.
Switzerland's monthly producer and import price index ticked down 0.1% in July, after a 0.3% decline in June, data from the country's Federal Statistical Office showed Thursday.Analysts expected a 0.2% decrease for the month.On a yearly basis, Swiss producer and import prices were 2.1% lower, similar to the 2.1% drop earlier.
The blue-chip Swiss Market Index remained in negative territory on Wednesday, closing 0.86% lower, as investors digested a fresh batch of company updates and economic data prints across key markets.Switzerland's Federal Council launched a public consultation on amendments to the country's Banking Act and the Liquidity Ordinance, including increased requirements for systemically important banks such as UBS Group (UBSG.SW). As part of the government's proposed measures, Swiss financial regulator FINMA would gain stronger supervisory powers, allowing it to impose fines for companies' noncompliance or late implementation of orders. The council also proposed to expand lenders' access to liquidity from the Swiss National Bank (SNBN.SW).In response to the consultation drafts, FINMA recommended the implementation of the planned measures as a comprehensive package and welcomed the proposal to expand its supervisory tools. The SNB also welcomed the proposals, saying they are "crucial for resolving regulatory weaknesses highlighted" by the collapse of Credit Suisse, which UBS took over in 2023.UBS shares closed the trading session flat, while the SNB's shares were down 0.32%.Meanwhile, Temenos (TEMN.SW) will carry out a share buyback program of up to 100 million francs, set to begin Thursday and run until Feb. 26, 2027, at the latest. The Swiss banking software and technology company intends to use the repurchased shares for general corporate purposes, including potential acquisitions. The stock gained 1.19% at closing.Elsewhere and on the economic front, the annual inflation rate in neighboring Germany accelerated to 2.8% in July from 2.3% in the previous month, while that in Italy ticked down to 2.9% from 3%. In the US, the annual inflation rate eased to 3.4% in July from 3.5% in June."We recognise that the [US Federal Reserve] has missed its inflation target for the past five years. Nonetheless, progress does appear to be being made and consumer inflation expectations are within tolerable ranges, suggesting little risk of second-round price effects from the energy spike. Meanwhile, market inflation expectations are benign, with 10Y break-even inflation rates in line with their 25-year average," ING said in a note. "The market is still pricing a rate hike from the Fed, but we see the more likely course of action is for the Fed to hold rates steady for a prolonged period, well into 2027."On the geopolitical front, media reports suggested progress in US-Iran and Oman-Iran talks over traffic through the Strait of Hormuz amid fresh security concerns. A suspected Houthi strike in the Bab el-Mandeb Strait and a reported US attack on a vessel in the Gulf of Oman added to uncertainty, while President Donald Trump said the US was in a strong position and claimed control of the Strait of Hormuz.
The International Energy Agency expects global oil demand to fall more than previously anticipated in 2026, as maritime and supply chain disruptions caused by renewed hostilities between the US and Iran undermined recovery efforts.In its August oil market report published Wednesday, the IEA said global oil demand is now projected to decline by 1.6 million barrels per day on average in 2026, 510,000 barrels per day higher than its forecast a month ago, as fuel prices remained elevated due to the continued closure of the Strait of Hormuz after the interim ceasefire deal collapsed mid-June. Demand is anticipated to see growth in the final quarter of 2026, then expand by 2.4 million barrels per day in 2027.Meanwhile, global supply is now forecast to drop by an average of 4.3 million barrels of oil per day in 2026, to 102 million barrels per day, before rebounding by 8.3 million barrels per day to 110.3 million barrels per day in the next year."Although the market is projected to return to surplus towards the end of this year, risks remain substantial and the urgency of reopening the Strait has increased, as previously available inventory buffers are rapidly depleting," the IEA noted.
Swiss stocks slipped at the end of Tuesday's trading, with the Swiss Market Index closing 0.40% lower, amid another quiet day of economic news locally and fading optimism over a potential US-Iran peace deal.US President Donald Trump responded to Iran's call for compensation and an end to sanctions with his own demands that Tehran pay "for the damage they've done over a 50-year period," including reparations for the deaths of US forces and civilian demonstrators. Iran earlier said it will not reopen the Strait of Hormuz unless Washington meets its conditions.Back home, the Swiss government intends to maintain Switzerland's neutrality in its current form, which Federal Councilor Ignazio Cassis said has proven its worth. The statement comes ahead of a Sept. 27 referendum to vote on an initiative calling for a more restrictive concept of neutrality.On the corporate side, Alcon (ALC.SW) saw its shares gain 4.70% at closing as it delivered a 9% annual jump in first-half net sales to $5.47 billion, supported by growth in both its surgical and vision care segments. Operating and net income, on the other hand, fell over the period, weighed down by a pretax, non-cash net charge of $402 million related to the discontinuation of the PowerVision programs."The company raised core operating margin guidance to +90-190bps CER (prev. +70-170bps) and core EPS growth to +12-15% CER (prev. +10-13%), while maintaining revenue growth of +5-7% CER. The tariff assumption was updated to a net impact of $40-90m (prev. $100-150m), including a $60m anticipated US government refund in Q3, of which c.two-thirds will be reinvested," RBC Capital Markets analysts said in a note. "The share count assumption moved to 488m (prev. 492m), reflecting the buyback programme which is running at a faster pace than the three-year headline suggests ($295m repurchased in Q2 alone, $1.2bn remaining after one quarter of execution). There is potential further upside to FY guidance given H1 momentum, particularly in Equipment and Ocular Health, in our view."Tecan Group (TECN.SW) reported a decline in sales to 427.5 million francs in the first half from the year-ago 439.5 million francs, while reported net profit dropped 31.5% over the period to 12.3 million francs. The results were impacted by higher costs related to certain non-recurring investments and the Swiss laboratory automation company's "Rewired" transformation program, including restructuring expenses. The stock concluded the session 10.30% lower.Meanwhile, the Swiss Parliament's Economic Affairs and Taxation Committee of the upper house postponed its Tuesday vote on proposed amendments to Switzerland's capital rules, including changes related to the amount of extra capital UBS Group (UBSG.SW) would be required to hold. A parliament spokesperson toldthat the committee will resume deliberations on the matter at its Aug. 31 meeting. UBS shares were down 0.41%.
Swiss equities began the new trading week on an upbeat note, with the Swiss Market Index up 0.61% on Monday's close, amid a quiet day of local economic news as markets mulled over the latest corporate updates and geopolitical developments related to the US-Iran war."While US President Donald Trump said Washington is 'semi-negotiating' with Iran, suggesting a focus on economic pressure rather than military escalation, significant hurdles remain before any broader agreement is reached. Reports indicate that Iran and Oman are nearing an agreement on a shipping route through Hormuz, though a full reopening of the waterway is still likely to depend on progress in US-Iran talks," according to strategists at ING.On the economic front, the KOF Swiss Economic Institute's global economic barometers diverged in August after two months of joint advancement, with the coincident barometer edging down 0.4 points to 103.2 points and the leading barometer increasing 2.7 points to 104.4 points."The world economy continues to recover, with Europe also showing genuine signs of actual improvement. Despite the ongoing uncertainty surrounding the Strait of Hormuz and the adverse weather conditions affecting at least Europe, the sustained improvement in the leading indicator suggests that this may not just be a short-lived phenomenon," KOF director Jan-Egbert Sturm said. "Unfortunately, sudden geopolitical events have surprised us before."Over to corporates, Aryzta (ARYN.SW) shares dropped 11.20% at closing as it recorded a year-over-year decline in first-half revenue to 1.06 billion euros from 1.09 billion euros. Profit for the period and EBITDA also fell 3.9% and 7%, respectively, to 47.2 million euros and 139.9 million euros, as underperformance in Germany offset growth achieved in other key markets. The Swiss bakery company said it is reviewing all options for Germany to boost shareholder value.The Swiss parliament's Economic Affairs and Taxation Committee of the upper house is set to meet on Tuesday to discuss several changes to a draft bill to overhaul Switzerland's capital rules, Bloomberg News reported. The proposed changes include options such as reducing the amount of extra capital UBS Group (UBSG.SW) needs or allowing the banking group to fill half of the capital requirement with bonds rather than equity. The stock ended the trading session 0.85% in the green.
The KOF Swiss Economic Institute's global economic barometers diverged in August 2026 but remained above the 100-point level, indicating continued "moderate" economic growth worldwide.The coincident global barometer edged down 0.4 points to 103.2 points, according to a Monday release. The leading barometer, meanwhile, reached its highest level since February 2022, increasing 2.7 points to 104.4 points.The decline in the coincident barometer was mainly due to negative contributions from the Asia, Pacific & Africa region and the Western Hemisphere. On the other hand, the rise in the leading barometer was largely attributed to the positive contribution from the Asia, Pacific & Africa region.
The blue-chip Swiss Market Index bounced back to positive territory on Friday, closing 0.18% higher, as investors assessed the latest corporate updates and economic data prints.Switzerland's consumer sentiment index improved to -34.8 points in July from -35.8 points in June. In the previous year, the index stood at -32.8 points. The State Secretariat for Economic Affairs said the separate indices for financial outlook, past financial situation and the moment to make major purchases deteriorated year over year, while the indicator for economic outlook "barely changed."Meanwhile, the country's foreign currency reserves increased to 768.26 billion francs in July from the revised 758.85 billion francs previously, according to data from the Swiss National Bank (SNBN.SW).Over to corporates, Novartis (NOVN.SW) secured approval from the UK's Medicines and Healthcare products Regulatory Agency for its Rhapsido drug to treat eligible adults with chronic spontaneous urticaria whose symptoms are not sufficiently controlled by using H1 antihistamines alone. The Swiss pharmaceutical major's stock was up 0.64% at closing.Amrize (AMRZ.SW) reported a year-over-year increase in first-half revenue to $5.68 billion from $5.31 billion, while net income jumped to $369 million from $322 million. For full-year 2026, the building materials company updated its revenue guidance to between $12.5 billion and $12.7 billion amid increased demand and oil price-driven cost inflation."Amrize is making good progress with its ASPIRE program and expects to achieve $80 million of savings in 2026. Across both businesses, additional price increases are expected to be realized in the second half of the year. The timing difference between price realization and oil price driven cost inflation is expected to affect Full Year company earnings," the company said in its earnings release. Amrize's shares concluded the trading session 8.78% in the red.
Switzerland's consumer sentiment index ticked up to -34.8 points in July from -35.8 points in June, according to data from the State Secretariat for Economic Affairs published Friday.In the previous year, the index stood at -32.8 points.
The Swiss Market Index shed 0.23% on Thursday's close, breaking its three-day winning streak amid a fresh batch of corporate earnings reports and economy-related releases that hit the market.Swiss Re (SREN.SW) delivered a 9% annual increase in net income to $2.83 billion in the first half of 2026 on the back of double-digit growth at all three business units, with insurance service result also rising over the period, placing the reinsurer "well on track" toward achieving its 2026 financial targets. The group's insurance revenue, meanwhile, declined 3%, weighed down by the overall renewals outcome in 2025 and reduced volumes written by cedents. The stock was up 0.66% at closing.Meanwhile, Swisscom's (SCMN.SW) first-half net income climbed to 668 million francs from the year-ago 625 million francs, while revenue decreased to 7.22 billion francs from 7.45 billion francs. For 2026, the telecommunications company reaffirmed its guidance, including revenue of 14.7 billion francs to 14.9 billion francs, and reiterated its intention to propose a higher dividend for the full year. Swisscom's shares ended the trading session 4.38% higher."Swisscom reported a solid set of Q2 2026 results this morning. Revenue came in c1% ahead of consensus, EBITDAaL beat by c4% and OpFCF beat by 23% (CHF608m versus the consensus estimate of CHF496m), driven by a combination of the EBITDAaL beat and lower-than-expected capex," Berenberg analysts said in a flash note. "However, FY 2026 OpFCF guidance was left unchanged at CHF2bn. Free cash flow was slightly weaker versus consensus, due to tax and working capital effects, at CHF131m versus consensus of CHF185m, which looks like phasing to us."Other Switzerland-listed corporates that published financial results included recruitment services company Adecco Group (ADEN.SW) and Zurich Insurance Group (ZURN.SW).On the jobs front, the unemployment rate in Switzerland edged up to 3% in July from 2.9% in the previous month, government data showed. The number of unemployed people rose by 1,525 month over month to 139,276 in July.In geopolitical news, Iran said it had reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, although officials said the arrangement would be temporary and would not constitute a full reopening of the waterway. Meanwhile, President Donald Trump claimed that the US still possesses "massive amounts" of munitions following media reports that its military is running low on its stockpile.
Switzerland's unemployment rate increased to 3% in July from 2.9% a month ago, according to data from the State Secretariat for Economic Affairs published Thursday.At the end of July, 139,276 individuals were registered as unemployed, up by 1,525 from a month ago.
Swiss stocks extended their winning streak to a third day on Wednesday, with the Swiss Market Index closing 0.61% higher, amid renewed hopes that the US-Iran war will soon resolve.President Donald Trump told reporters that a deal could be agreed between the US and Iran by today or Thursday, saying "a lot of progress has been made" in talks to reopen the Strait of Hormuz, the Associated Press reported. Meanwhile, unnamed regional officials told the news agency that a draft deal to reopen the strait was finalized by negotiators from Iran and Oman, pending the Iranian supreme leader's final approval.Back in Switzerland, the country's private sector saw an improvement in July, with the KOF Business Situation Indicator rising to 21.5 from 17.2 in the previous month. Companies' business expectations for the next six months are also "significantly" improving amid "more buoyant" business activity, compared with the start of 2026."Business forecasts are consistently positive across all of the sectors mentioned, with expectations for the next six months more upbeat than before. Overall, the results point to a broad-based recovery in the Swiss economy," KOF Institute said.On the corporate front, Sandoz Group's (SDZ.SW) first-half net sales climbed year over year to $5.76 billion from $5.23 billion, mainly driven by "excellent" double-digit growth at its biosimilars division. Net income, on the other hand, fell over the period to $109 million from $377 million, weighed down by legal and restructuring expenses. For full-year 2026, the Swiss generic drugmaker reaffirmed its guidance, including net sales growth in the mid-to-high single-digit percentage at constant currency. The stock closed the session 6.04% higher."Sandoz delivered a solid set of results - sales and EBITDA are broadly in line, with a 3% beat on 2Q biosimilar sales offsetting 1% miss on generics. FY26 guidance is reiterated and we would expect a neutral to small positive reaction in the shares this morning," RBC Capital Markets said in a quick take note. "Pricing erosion is now expected at mid-single-digit (previously low-to-mid), reflecting short-term dynamics in Germany and the North America biosimilar mix effect. Guidance excludes any impact from potential US tariffs and assumes limited contribution from generic semaglutide."Basilea Pharmaceutica (BSLN.SW) secured a further $5.4 million in funding from the Biomedical Advanced Research and Development Authority, or BARDA, to continue the development of its new oral antibiotic ceftibuten-ledaborbactam etzadroxil. The drug candidate is being developed to treat complicated urinary tract infections, including pyelonephritis. The company's shares lost 0.40% at closing.
The KOF Business Situation Indicator for the Swiss private sector rose in July, amid a "fairly broad-based" rebound in surveyed sectors.Based on the KOF Business Tendency Surveys published Wednesday, the seasonally adjusted index rose to 21.5 from the previous month's 17.2. The reading reversed the decline seen in the last two months and marks the highest level since June 2023.Business expectations for the next six months also improved "significantly," despite staying below the confidence levels seen at the beginning of 2026.
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