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139 stories mentioning Swiss Market Index (SMI)Updated 12m ago

The Swiss Market Index ended little changed after a preliminary US-Iran deal; Zurich Insurance rose and Swiss consumer confidence slightly improved.

Equities

IEA Warns of Further Price Volatility as Middle East War Continues to Disrupt Global Oil Supply, Demand

The International Energy Agency expects to see further price volatility in 2026, with global oil inventories being depleted at a record pace since the Middle East war began in February amid the closure of the Strait of Hormuz.In its May oil market report published Wednesday, the IEA said global oil supply fell to 95.1 million barrels per day in April, while observed global inventories, including oil on water, were drawn down by 4 million barrels a day in March and April.Looking ahead, global supply is anticipated to decline by 3.9 million barrels of oil per day on average in 2026, to 102.2 million barrels per day, under the assumption that flows through the Strait of Hormuz will gradually resume from June.Meanwhile, the IEA now expects oil demand to contract by 420,000 barrels per day on an annual basis this year to 104 million barrels per day, which is 1.3 million-barrels-per-day below its projections before the war.

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Asia Markets

Swiss Market Index Closes Higher; SoftwareOne Shares Jump

Swiss stocks were in positive territory on Tuesday, with the Swiss Market Index up 0.14% at the end of the trading day, amid a slew of economic data and corporate earnings releases that hit the market.Switzerland's producer and import price index rose 0.8% month over month in April and fell 2% on a yearly basis to 100.5 points, according to data from the Federal Statistical Office.In the euro area, the ZEW Indicator of Economic Sentiment for the bloc improved to -9.1 points in May from -20.4 points in April. Across the pond, the annual inflation rate in the US climbed to 3.8% in April from 3.3% a month earlier, while the annual core inflation rate rose to 2.8% from 2.6% previously.On the corporate front, SoftwareOne (SWON.SW) shares closed the session 9.30% higher as it booked a year-over-year surge in first-quarter revenue to 387.7 million francs from 231.6 million francs, with the integration of acquired company Crayon progressing as planned. Looking ahead, the Swiss software and cloud technology group raised its revenue growth guidance for 2026 to the mid- to high-single digits from the mid-single digits, at constant currency and on a combined like-for-like basis.Laboratory instruments company Tecan Group (TECN.SW) and real estate group PSP Swiss Property (PSPN.SW) also published financial updates.Meanwhile, Deutsche Bank Research reduced its price target for Alcon (ALC.SW) to 70 francs from 77 francs, with a buy rating on the stock, noting that the investment case for the Swiss eye care products group is still intact after "solid" first-quarter results. The stock was 2.89% in the green at closing."Although the top line did not meet buy-side expectations, the performance should be sufficient to deliver on full-year guidance ... The company also initiated a new $1.5 billion share buyback program, and its many recent product launches are ramping up well, set to contribute more meaningfully in the coming quarters. Consequently, we view the harsh share price reaction following the results as overdone," the research firm said. "While it may take some time for market sentiment to settle, we expect the stock to recover, and our reduced target price still offers 40% upside potential."

^SSMI$ALC.SW$PSPN.SW$SWON.SW$TECN.SW
International

Swiss Monthly Producer, Import Prices Up 0.8% in April

Switzerland's monthly producer and import price index ticked up 0.8% in April, after a 0.2% gain in March, data from the country's Federal Statistical Office showed Tuesday.Analysts expected a 0.1% growth for the month.On a yearly basis, Swiss producer and import prices were 2% lower, compared with a 2.7% drop in the prior month.

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Asia Markets

Swiss Stocks Kick Off Week Little Changed; Ams-Osram Shares Gain

The Swiss Market Index was 0.01% higher on Monday's close, as investors gear up for a busy week of economic data prints and business surveys across Europe and other major global markets.ABB (ABBN.SW) is investing $200 million over the next three years to bolster its medium-voltage manufacturing and technology capabilities in Europe, with $100 million earmarked for a new facility in Italy. The other half will be allocated for capacity expansion projects across the Switzerland-based electrification and automation company's manufacturing facilities in Bulgaria, Finland, Germany, Norway and Poland. The stock was up 1.88% at closing.Ams-Osram (AMS.SW) saw its shares surge 13.22% as it agreed to sell its CMOS Image Sensor business to indie Semiconductor for a total consideration of 40 million euros. The divestment is part of the light and sensors manufacturer's accelerated deleveraging plan and continued efforts to focus on core digital photonics growth vectors, with the deal anticipated to complete within the next six months."While [CMOS Image Sensor] represents a strong technology platform, our strategic priority is to concentrate investments on those AI driven segments that offer the most promising growth prospects and where we clearly differentiate - including AI Photonics and AR smart glasses," Ams Osram Chief Executive Officer Aldo Kamper said. "At the same time, the expected cash proceeds provide an additional contribution to our accelerated balance sheet deleveraging. Our transformation into the Digital Photonics powerhouse is progressing."Switzerland's economic news calendar was empty for the day, while the release of the country's April producer and import prices and first-quarter industrial production data are on this week's agenda. Market watchers are also awaiting the April US inflation rate figures and Eurozone ZEW Economic Sentiment Index for May, among other key data releases.

^SSMI$ABBN.SW$AMS.SW
Asia Markets

Swiss Market Index Closes Lower; Logitech Shares Jump

The Swiss Market Index was in negative territory on Friday, ending the trading session 0.27% lower amid a flurry of corporate releases and economy-related data prints.Government data showed that Switzerland's consumer sentiment index rose to -40 points in April from -42.9 points in March. In the previous year, the index came in at -42.4 points. The State Secretariat for Economic Affairs said the separate indices for economic outlook and past financial situation improved year over year, whereas the index for financial outlook "barely changed." On the other hand, the indicator for moment to make major purchases deteriorated.Over to corporates, Logitech International (LOGN.SW) saw its shares jump 3.03% as it initiated its new three-year share repurchase program worth $1.4 billion as part of plans to buy back $2 billion in shares over the period. The new program follows the completion of the Swiss computer peripherals and software company's $1.6 billion buyback that began in 2023.Pharmaceutical manufacturer Lonza Group (LONN.SW) was 0.66% lower at close after confirming its sales growth guidance of between 11% and 12% at constant exchange rates. Lonza forecasts low-teens percentage sales growth at constant exchange rates in the mid-term."In light of macro uncertainty and tariff concerns, we think that this update - with its combination of demand reassurance, guidance reaffirmation and CHI exit timelines - should be taken well by investors, who largely still view Lonza as a long-term compounder," RBC Capital Research said in a quick take note.

^SSMI$LOGN.SW$LONN.SW
International

Swiss Consumer Confidence Improves in April

Switzerland's consumer sentiment index rose to -40 points in April from -42.9 points earlier, according to data from the State Secretariat for Economic Affairs published Friday.Analysts expected -46 points for the month.In the previous year, the index stood at -42.4 points.

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Asia Markets

Swiss Blue-chip Index Slips Amid Earnings Rush; Swiss Re Shares Down

The Swiss Market Index slipped back into the red on Thursday, closing 1.11% lower, as investors digested a fresh batch of corporate earnings and economic data releases while closely monitoring geopolitical developments in the Middle East.Switzerland's foreign currency reserves declined to 715.73 billion francs in April from the revised 721 billion francs in March, according to data from the Swiss National Bank (SNBN.SW). In terms of jobs, government data showed that the unemployment rate in Switzerland ticked down to 3% in April from 3.1% in the previous month.On the geopolitical front, a Swiss delegation led by Federal Department of Foreign Affairs State Secretary Alexandre Fasel met with the US deputy secretary of state in Washington, with talks focused on the current geopolitical situation, bilateral economic cooperation, innovation, and future-oriented issues.In corporate news, telecommunications group Swisscom (SCMN.SW), travel retailer Avolta (AVOL.SW) and reinsurance giant Swiss Re (SREN.SW) were among Switzerland-listed companies that published earnings updates.Swiss Re saw its shares lose 3.19% at closing as it reported a group insurance revenue of $10.03 billion in the first quarter, down from the year-ago $10.41 billion, impacted by lower revenue at its property and casualty reinsurance division and the company's ongoing exit from its iptiQ business. Group net income, in contrast, increased 19% year over year."Q1 net income of $1,513m was 27% above company-compiled consensus of $1,193m, but of mixed quality - driven almost entirely by nat cat losses 67% below the quarterly budget and flattered by a ~12pts discounting benefit in P&C Re (vs ~8pts in Q1 2025), albeit incorporating a $400m reserve strengthening for Iran War impact. Revenues, new business volumes and pricing reflected increasing cyclical pressure, however," RBC Capital Markets said in a quick take note, with a negative sentiment on Swiss Re.Meanwhile, Roche (RO.SW) agreed to buy US-based company PathAI in a merger deal that would strengthen its digital pathology portfolio. The Swiss pharmaceutical major will make an upfront payment of $750 million and a further $300 million in milestones, with the deal anticipated to be completed in the second half. The stock was down 1.39% at the end of the trading day.

^SSMI$AVOL.SW$RO.SW$SCMN.SW$SNBN.SW$SREN.SW
International

Swiss Jobless Rate Inches Down to 3% in April

Switzerland's unemployment rate stood at 3% in April, down from 3.1% in the previous month, according to data from the State Secretariat for Economic Affairs published Thursday.At the end of April, 142,902 individuals were registered as unemployed, down by 3,353 from a month ago.

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Asia Markets

Swiss Market Index Rallies; Alcon, Logitech Shares Fall

The Swiss Market Index remained in the green on Wednesday, closing 1.77% higher, amid renewed hopes that the war in the Middle East will soon end.The US and Iran are said to be close to reaching an agreement on a one-page, 14-point memorandum of understanding to end the war, multiple media outlets including Axios and Reuters reported, citing sources. Meanwhile, in a post on the Truth Social platform, US President Donald Trump said if Iran "agrees to give what has been agreed to," the war and blockade will end, warning that the bombing would start "at a much higher level and intensity than it was before" if an agreement is not reached.Back home, Switzerland's private sector saw an improvement in April, with the KOF Business Situation Indicator rising to 18.3 from 16.6 in the previous month."The Business Situation Indicator for the manufacturing sector has fully recovered from its decline in March. The indicator is rising even more sharply in the project engineering sector and, more moderately, in the wholesale trade. Other services and the retail trade are also showing modest upturns," the KOF Swiss Economic Institute said. "However, the business outlook for the next six months is generally becoming more subdued - particularly in the hospitality sector, the wholesale trade and manufacturing."Over to corporates, Logitech International (LOGN.SW) fiscal 2026 net income rose on a yearly basis to $711.2 million, compared with $631.5 million, while net sales grew to $4.84 billion from $4.55 billion. The Swiss computer peripherals and software company's shares were down 0.40% at the end of the trading session.Swiss eye care products group Alcon (ALC.SW) also saw its shares fall 10.96% at closing as first-quarter net income plunged year over year to $189 million from $350 million. Operating income dropped 38% to $292 million, dented by costs associated with efficiency initiatives, impairment charges related to an intangible asset, and incremental tariffs. Net sales, on the other hand, increased over the period."Despite having a dominant position in its target markets, Alcon's investment case hinges on margin expansion, which entails execution risks. The ophthalmology market growth, though sticky to a material extent, remains capped at around a mid-single digit percentage. As a result, we expect Alcon to chase inorganic growth in the quarters/years ahead, especially considering the termination of proposed acquisition of STAAR Surgical in January 2026," analysts at AlphaValue/Baader Europe said in a note. "While we currently have a 12% upside on Alcon, one may want to wait for more of a correction in the share price for lucrative returns."

^SSMI$ALC.SW$LOGN.SW
International

KOF: Swiss Business Situation Improves in April

The KOF Business Situation Indicator for the Swiss private sector rose in April, mainly driven by improvements in manufacturing alongside "modest" gains in other services and retail trade.Based on the KOF Business Tendency Surveys published Wednesday, the seasonally adjusted index rose to 18.3 in April from the previous month's 16.6. The reading reversed the previous month's decline and marks the highest level since the start of 2026.Conversely, business expectations for the next six months are "more subdued" for the third consecutive month, primarily due to the outlook of the hospitality segment, wholesale trade and manufacturing.

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Asia Markets

Swiss Stocks Gain; Inflation Picks Up

The Swiss Market Index closed 0.38% higher on Tuesday, as investors took stock of the latest corporate updates and economic data releases that hit the market.The annual inflation rate in Switzerland rose to 0.6% in April 2026 from 0.3% in the previous month, hitting its highest level since December 2024, government data showed. On a monthly basis, consumer prices were 0.3% higher, against the prior 0.2% gain and the consensus estimate of a 0.4% rise."The 0.3% increase compared with the previous month is due to several factors including rising prices for petrol, diesel and heating oil. Prices for air transport also recorded a price increase, as did those for international package holidays," the Federal Statistical Office said. "In contrast, prices for hotels and supplementary accommodation decreased, as did those for car rental and car sharing."On the corporate side, Thomas Berden is set to step down as VAT Group's (VACN.SW) chief operating officer to pursue opportunities outside of the vacuum valves manufacturer. Berden will remain with the group until the early fourth quarter. At the end of the trading session, the Swiss stock added 3.21%.Meanwhile, Geberit's (GEBN.SW) net sales declined 0.7% year over year to 873 million francs, impacted by negative currency effects of 35 million francs, while net income rose 4.5% to 196 million francs. The Swiss sanitary products and bathroom ceramics manufacturer's shares were down 0.35% at closing."Geberit delivered Q1 results, with margins modestly ahead of expectations and FX-adjusted growth stronger than expected. While the print is reassuring, part of the growth likely benefited from pull-forward effects and management remains cautious, noting that the impact of current geopolitical tensions is still difficult to quantify," according to analysts at AlphaValue/Baader Europe. "Overall, Q1 supports the resilience of the model, though visibility on the underlying run-rate remains limited."

^SSMI$GEBN.SW$VACN.SW
US Markets

Swiss Inflation Hits Highest Level Since December 2024 Amid Rising Fuel Prices

Switzerland's annual inflation rate rose for the second consecutive month in April 2026 and hit its highest level since December 2024 as tensions in the Middle East keep energy prices elevated.The Swiss consumer price index climbed 0.6% year over year in April following a 0.3% rise in March, data from the country's Federal Statistical Office showed Tuesday. On a monthly basis, consumer prices edged up 0.3%, against March's 0.2% gain and the consensus estimate of a 0.4% rise.Excluding volatile items such as fresh and seasonal products, energy, and fuel, annual inflation ticked down to 0.3% from 0.4%. Month over month, core inflation showed zero growth.The FSO mainly attributed the month-over-month increase to rising prices for petrol, diesel and heating oil, as well as higher prices for air transport and international package holidays. On the other hand, prices for hotels and supplementary accommodation decreased during the month, along with prices for car rental and car sharing.In its March monetary policy assessment, the Swiss National Bank (SNBN.SW) left its key rate unchanged at 0%, citing the "virtually unchanged" inflationary pressure over the medium term. The SNB, however, noted that the outlook for the country's economy has become "considerably more uncertain" as a result of the Middle East conflict."With the rise in energy prices due to the escalation in the Middle East, inflation is likely to increase more strongly in the coming quarters. As a result, the conditional inflation forecast in the short term is higher than in December [2025]. In the medium term, it is slightly lower due to the stronger Swiss franc," the central bank said at the time. "Given the conflict in the Middle East, the SNB's willingness to intervene in the foreign exchange market has increased. The SNB thereby counters a rapid and excessive appreciation of the Swiss franc, which would jeopardise price stability in Switzerland."The Swiss central bank's next monetary policy assessment is set for June 18.

^SSMI$SNBN.SW
International

Swiss Annual Inflation Rate Rises to 0.6% in April

Switzerland's annual inflation rate stood at 0.6% in April, up from 0.3% in the previous month, according to data from the country's Federal Statistical Office published Tuesday.On a monthly basis, consumer prices were 0.3% higher, compared with the previous 0.2% gain and the expected 0.4% growth.

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Asia Markets

Swiss Market Index Begins Week in Red; Graubündner Kantonalbank Shares Down

Swiss stocks welcomed the new trading week on a downbeat note following a long weekend, with the Swiss Market Index down 1.01% on Monday's close.Switzerland's manufacturing PMI rose to 54.5 in April from 53.3 in March, data from procure.ch and UBS showed, beating the consensus estimate of 52.On the labor market front, the KOF employment indicator edged up to 2.2 points in the second quarter from the downwardly revised 2.1 points in the previous quarter, remaining "slightly" higher than its long-term average of 1.7 points."Despite the war waged by the United States and Israel against Iran since the end of February and the associated rise in oil and gas prices, the employment outlook for Swiss firms has not deteriorated overall," the KOF Swiss Economic Institute said. "Assessments of current employment levels have remained virtually unchanged since the last quarter. The net balance of employment prospects for the next three months remains unchanged at 2.9 points compared with the last quarter. The proportion of firms planning to increase their workforces over the coming months thus remains higher than the percentage of firms expecting job cuts."Over to corporates, Graubündner Kantonalbank (GRKP.SW) shed 7.17% at closing after disclosing that a lawsuit was filed against it and its BZ Bank subsidiary for alleged breaches of duty related to a client relationship and an investment product managed by the unit. The plaintiff is seeking mid-three-digit million compensation, while both banks deny the claims as "unfounded."Meanwhile, AlphaValue/Baader Europe changed its opinion on BB Biotech (BION.SW) to add from reduce and lifted its price target to 53.3 francs from 50.1 francs, following the Switzerland-based biotechnology investor's first-quarter results and upgraded outlook. The stock closed the session 0.34% higher."We have raised our target price for BB Biotech, reflecting an improved outlook for the biotech sector as well as strong execution by the investment team, following the positive pivotal Phase III readout from Revolution Medicines, and the acquisition of Terns Pharmaceuticals by Merck," the research firm said. "2026 EPS estimates (as reliable as they can be for this kind of business) have been adjusted to reflect the negative net profit reported in Q1 (-CHF 21m). EPS estimates from 2027 onwards benefit from a higher growth assumption for the U.S. biotech market (raised from 6% to 8% per year)."

^SSMI$BION.SW$GRKP.SW
International

Swiss Manufacturing PMI Climbs in April

Switzerland's manufacturing PMI increased to 54.5 in April from 53.3 in March, according to procure.ch and UBS data published Monday.The consensus estimate for the month stood at 52.

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International

KOF: Swiss Employment Indicator Remains Positive for Q2 Despite Iran War

Swiss businesses maintained a steady employment outlook for the second quarter, despite rising energy costs and global supply chain volatility triggered by the Iran conflict, the KOF Swiss Economic Institute said Monday.The KOF employment indicator rose to 2.2 points from the revised 2.1 points in the first quarter, slightly higher than the long-term average of 1.7 points. Meanwhile, the net balance of employment expectations for the next three months remained at 2.9 points, with more companies planning to hire rather than reduce their headcount.On a sectoral level, the employment outlook brightened within the wholesale and manufacturing segments, even as both segments remain in contraction territory. Conversely, the outlook for hospitality, retail, and other services softened slightly.

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International

Swiss Monthly Retail Sales Up 0.1% in March

Retail sales in Switzerland rose 0.1% month over month in real terms in March, after a revised 0.1% decrease in February, the country's Federal Statistical Office said Friday.On a yearly basis, seasonally adjusted retail sales were 0.5% higher, compared with the revised 0.4% gain earlier and the consensus estimate of a 1% growth.

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Asia Markets

Swiss Stocks Recover as ECB, BoE Rate Decisions Take Spotlight

The Swiss Market Index bounced back to positive territory on Thursday, closing 0.80% higher, ahead of the Labor Day holiday as investors turned their attention to the latest economic data prints and key monetary policy decisions in Europe.Switzerland's KOF Economic Barometer climbed to 97.9 points in April from the revised 95.6 points in the previous month."After the considerable drop in the previous month, it continues to remain below its medium-term average. The outlook for the Swiss economy remains muted, despite this month's increase," the KOF Swiss Economic Institute said. "Among the indicator bundles included in the Economic Barometer, the indicators for manufacturing, for other services and for private consumption show particularly positive developments."Elsewhere and on the regulatory front, the European Central Bank left its three benchmark interest rates unchanged, as expected. In the UK, the Bank of England also maintained its bank rate at 3.75%, after its monetary policy committee voted 8-1 in favor of a hold. Both central banks cautioned that the Middle East conflict continues to pose upside risks to inflation due to higher energy prices."All in all, the main take-away from today's ECB meeting can probably be described as another hawkish shift, introducing a clear hiking bias to its wait-and-see stance. It's still hard to see that the ECB would really want to fight an exogenous supply shock at the cost of worsening an economic downturn. However, a rate hike, be it symbolic or even a policy mistake, at the June meeting has clearly become more likely today," ING said. The research firm also expects the BoE to carry out a "one and done" rate increase in June.Over to corporates, OC Oerlikon's (OERL.SW) order intake and sales grew 17.9% and 5.3% year over year, respectively, to 455 million francs and 378 million francs in the first quarter, both at constant currency. The Swiss surface technologies and advanced materials company's shares added 4.43% at closing.Swiss drugmaker Novartis (NOVN.SW) also saw its shares rise 2.26% after announcing plans to open a new facility in the US state of North Carolina to manufacture active pharmaceutical ingredients for solid dosage tablets, capsules and RNA therapeutics. The facility is part of the company's wider $23 billion investment plan in the US to boost production capacity.The SIX Swiss Exchange is set to reopen on May 4.

^SSMI$NOVN.SW$OERL.SW
International

Swiss KOF Economic Barometer Increases in April

The KOF Swiss Economic Institute's economic barometer climbed to 97.9 points in April from the revised 95.6 points in the previous month, according to a Thursday release.Analysts expected 95.9 points for the month.Despite the improvement, KOF said the indicator remained below its medium-term average, continuing to signal a subdued outlook for the Swiss economy.

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Asia Markets

Swiss Blue-chip Index Extends Losses; UBS Shares Up

Swiss stocks extended their losing streak at Wednesday's close, with the Swiss Market Index down 0.88%, as investors assessed fresh corporate and economic data releases while awaiting the US Federal Reserve's monetary policy decision.The Fed is widely expected to leave its key interest rate unchanged in the 3.5% to 3.75% range later today."Nothing much is expected from this meeting. The March dots showed the Committee median vote leaned toward one cut this year and one more next year. That's unlikely to be settled for a long while yet. [US Fed Chair] Powell is unlikely to be comfortable with teeing up such a move before his successor takes over and he faces eleven other voting FOMC members that are more worried about inflation at the moment," Scotiabank Economics said. "Our forecast remains for one cut by late year and another in early 2027 which would drop the fed funds upper limit rate to 3.25% and hence still on the boundary between restrictive and neutral."Back home, data from UBS & CFA Society Switzerland showed that the country's economic sentiment index increased to -30.3 points in April from -35 points in March.On the corporate front, Sandoz Group's (SDZ.SW) net sales increased to $2.76 billion in the first quarter from the year-ago $2.48 billion, bolstered by an 18% growth in constant-currency net sales at its biosimilars segment. For 2026, the Swiss pharmaceutical major reaffirmed its guidance of a mid-to-high single-digit percentage growth in net sales at constant currency. The stock closed the session 2.23% lower.On the flip side, UBS Group (UBSG.SW) gained 3.22% at closing as it delivered a year-over-year surge in first-quarter net profit attributable to shareholders to $3.04 billion from $1.69 billion. Total revenue also climbed over the period to $14.24 billion from $12.56 billion, mainly driven by double-digit growth in the Swiss banking group's core franchises."We delivered excellent financial results and remain on track to deliver on our financial objectives for 2026 ... Having now successfully transferred all client accounts in Switzerland, we achieved another crucial milestone in one of the most complex integrations in banking history. We are confident in substantially completing the integration by year-end, positioning us for further sustainable growth," Chief Executive Officer Sergio Ermotti said. "On the topic of Swiss capital requirements, we will continue to engage constructively and contribute to fact-based deliberations. These developments do not, and will not, change who we are as a firm."

^SSMI$SDZ.SW$UBSG.SW

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