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Swiss Market Index (SMI)

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207 stories mentioning Swiss Market Index (SMI)Updated 1h ago

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

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Asia Markets

Swiss Market Index Blinks Red; Galderma Falls

The Swiss Market Index remained in the red on Wednesday, closing 0.56% lower, as investors took stock of the latest economic data releases while keeping abreast of developments in the US-Iran war.Switzerland's manufacturing PMI fell to 54.3 in June from 57.3 in May, according to data from procure.ch and UBS. Meanwhile, government data showed that retail sales in the country rose 0.5% month over month in real terms in May, following a revised 0.2% gain in April.In the euro area, the annual inflation eased to 2.8% in June from 3.2% in May, while the annual core inflation rate edged down to 2.4% from 2.6%, Eurostat's flash data showed.On the corporate side, Galderma Group (GALD.SW) will take corrective and preventive actions to address observations made by the US Food and Drug Administration following a pre-license inspection of the Swiss dermatology company's manufacturing site. The inspection is part of the FDA's review of the pending biologics license application for Galderma's ready-to-use liquid neuromodulator RelabotulinumtoxinA, or Relfydess. The stock shed 2.75% at closing.Ams-Osram (AMS.SW) completed the sale of its non-optical analog/mixed-signal sensor business to German semiconductor manufacturer Infineon Technologies for 570 million euros. The light and sensor technology company's shares were down 6.48% at the end of the trading day."With the successful closing of this transaction, a decisive step in strengthening our balance sheet has been achieved, while continuing to sharpen our strategic focus to build the global leader in Digital Photonics," Ams-Osram Chief Executive Officer Aldo Kamper said. "The divestment allows us to further concentrate our resources on our core business and on our growth opportunities."On the defense front, Martin Pfister, who heads the Swiss Federal Department of Defence, Civil Protection and Sport, is meeting with his French counterpart in Paris to coordinate cooperation and bolster security and defense ties between the two countries.In other news, the US and Iran reportedly held technical talks in Doha, Qatar, as both sides seek to reach an agreement on shipping flows in the Strait of Hormuz and a permanent peace deal, sources and an unnamed Iranian official told Reuters.

^SSMI$AMS.SW$GALD.SW
International

Swiss Manufacturing PMI Declines in June

Switzerland's manufacturing PMI decreased to 54.3 in June from 57.3 in May, according to procure.ch and UBS data published Wednesday.The consensus estimate for the month stood at 56.4.

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International

Swiss Monthly Retail Sales Up 0.5% in May

Retail sales in Switzerland rose 0.5% month over month in real terms in May, after a revised 0.2% increase in April, the country's Federal Statistical Office said Wednesday.On a yearly basis, seasonally adjusted retail sales were 3.5% higher, compared with the revised 1.7% growth earlier and the consensus estimate of a 1.8% rise.

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Asia Markets

Swiss Market Index Ends Lower; Lonza Shares Up

Swiss stocks were in negative territory on Tuesday, with the Swiss Market Index down 0.21%, as investors assessed the latest economic data prints across key markets.Switzerland's KOF Economic Barometer climbed to 101.2 points in June from the revised 98.6 points in May, mainly reflecting positive developments in the production side indicators. "After remaining below its medium-term average in the previous months, it now rises slightly above its average. The outlook for the Swiss economy improves noticeably," the KOF Swiss Economic Institute said.On the geopolitical front, the Swiss Federal Council plans to amend regulations to streamline the recognition of US standards for medical devices, passenger cars, conformity assessment bodies and government procurement as it continues with negotiations to secure a legally binding trade deal with the US."The implementation of these measures is in keeping with the objectives agreed in the joint statement and consistent with the Federal Council's negotiating mandate for the talks with the United States. At the same time, the Federal Council expects the United States to honour its commitments under the joint statement," the Swiss government noted.Meanwhile, the council will put four proposals to a vote on Nov. 29, including one related to an amendment to the Federal Act on War Matériel.Over to corporates, Lonza Group (LONN.SW) plans to boost the payload-linker manufacturing capacity at its Visp facility in Switzerland, expanding the commercial-scale production of highly complex and highly potent active pharmaceutical ingredients and antibody-drug conjugate payload-linkers. The additional manufacturing capacity is expected to be operational in 2028. At closing, the contract development and manufacturing organization's shares were up 1.15%.The US Food and Drug Administration accepted Roche's (RO.SW) supplemental biologics license application for its Enspryng drug for treating thyroid eye disease. The FDA also granted the drug priority review status. The Swiss drugmaker expects the regulator to decide on the approval by Oct. 15. The stock was 1.45% in the red at the end of the trading session.

^SSMI$LONN.SW$RO.SW
Switzerland Streamlines Standards for Certain US Goods Amid Push for Binding Trade Deal
US Markets

Switzerland Streamlines Standards for Certain US Goods Amid Push for Binding Trade Deal

The Swiss government plans to modify its domestic regulations to streamline the entry of select US imports as part of ongoing efforts to secure a comprehensive trade deal with Washington, according to a Tuesday release.While talks to secure a legally binding trade pact are ongoing, the move allows Bern to fulfill its commitments under a November 2025 preliminary agreement with the US. The strategy ultimately aims to stabilize bilateral trade and offer long-term planning certainty for Swiss exporters.Switzerland's Federal Council plans to adjust its local ordinances to recognize US safety and manufacturing standards for passenger cars and medical devices. The target deadline for revising vehicle regulations is set for the end of 2027, while updates to medical device rules are slated for completion by the third quarter of the same year.According to the Federal Council, the amendments will also cover government procurement and the recognition of US conformity assessment bodies. Changes to the procurement rules are anticipated to be finalized by the first quarter of 2027."The implementation of these measures is in keeping with the objectives agreed in the joint statement and consistent with the Federal Council's negotiating mandate for the talks with the United States. At the same time, the Federal Council expects the United States to [honor] its commitments under the joint statement," the Swiss government said in its press release.At the end of July 2025, Switzerland faced the highest US tariffs in Europe after President Donald Trump imposed a 39% duty on Swiss imports. However, the November agreement between the two nations slashed these levies to 15%, bringing the nation in line with the rate applied to the European Union.

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International

Switzerland Unveils Plan to Ease US Import Rules as Trade Deal Talks Continue

The Swiss government intends to amend regulations to streamline recognition of US safety and manufacturing standards for medical devices and passenger cars to meet its obligations under a November 2025 preliminary trade agreement with Washington.In a Tuesday release, Switzerland's Federal Council said that by easing import friction for American products, it expects the US to honor its reciprocal tariff commitments to help stabilize bilateral trade relations.According to the Federal Council, the measures also cover government procurement and US conformity assessment bodies. Negotiations on a legally binding trade agreement between the two countries are ongoing.

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International

Swiss KOF Economic Barometer Climbs in June

The KOF Swiss Economic Institute's economic barometer increased to 101.2 points in June from the revised 98.6 points in May, according to a Tuesday release.Analysts expected 99 points for the month.KOF noted the figure rose slightly above the indicator's medium-term average, reflecting a "noticeable" improvement in the Swiss economy's outlook.

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Asia Markets

Swiss Stocks Open Week Upbeat; Sandoz Group Gains

The blue-chip Swiss Market Index was up 0.36% on Monday's close as investors get ready for a busy week of labor market and economy-related data releases while closely following geopolitical developments in the Middle East."Tensions in the Iran conflict have continued to escalate since Friday, with a series of tit-for-tat strikes around the Strait of Hormuz despite a fragile ceasefire framework ... However, overnight developments suggest a tentative de-escalation, with the US and Iran reportedly agreeing to halt further attacks ahead of renewed technical talks in Doha this week," said analysts at Deutsche Bank Research. "Both sides are said to be standing down for now, allowing shipping flows to continue, although disputes over key provisions of the memorandum of understanding-particularly around control and potential costs for transit through Hormuz-mean the situation remains fragile and risks to regional stability persist."It was a quiet day of local economic news back home in Switzerland, while the release of KOF leading indicators, as well as the country's May retail sales numbers and June inflation data, are among this week's agenda. Market watchers are also awaiting the latest inflation and unemployment figures for the eurozone, among other key data releases.On the corporate front, the US Food and Drug Administration accepted Sandoz Group's (SDZ.SW) two abbreviated new drug applications for an in-house generic tirzepatide autoinjector addressing the same indications as the reference medicines Mounjaro and Zepbound, including type 2 diabetes mellitus and weight management. The Swiss pharmaceutical major's stock gained 1.84% at closing.Meanwhile, Deutsche Bank Research lifted its price target for UBS Group (UBSG.SW) to 45 francs from 40 francs, with a buy rating on the stock, as it "modestly" upgraded its forecasts for the Swiss banking group ahead of its second-quarter results. At the end of the trading day, UBS shares were 0.03% in the green."While UBS always remained focused on the business ever since the Credit Suisse acquisition and reported strong commercial momentum in most quarters over the last three years, many investors were focused on the negative regulatory impact from the new Swiss too big to fail regulation. However, also investor sentiment is now shifting back to the business as UBS increases capital return and the capital markets remain very supportive for the bank," according to the research firm.

^SSMI$SDZ.SW$UBSG.SW
Asia Markets

Swiss Market Index Snaps Gains; ABB Shares Down

The Swiss Market Index broke its four-day winning streak on Friday to close 0.42% lower, joining a regional retreat in Europe amid renewed concerns about whether the interim US-Iran peace deal will hold."The market mood was also partially disrupted by news that a cargo ship was hit by unknown projectile in the Strait of Hormuz, which also followed reports of some ships turning around while attempting to cross the strait. So that led to some renewed uncertainty over the normalization of shipping, after the number of vessels going through the strait had risen in recent days," said analysts at Deutsche Bank Research.Back home, Switzerland's economic news calendar was empty for the day, while the upcoming week will see the release of KOF leading indicators, May retail sales figures, as well as the manufacturing PMI and inflation rate data for June.On the corporate side, ABB (ABBN.SW) agreed to purchase Norway-based marine automation specialist Høglund for an undisclosed sum, with the deal expected to be completed in the third quarter. Høglund will be integrated into the Swiss electrification and automation company's marine and ports division. ABB's shares closed the trading session 2.54% in the red."Høglund's marine automation portfolio will complement ABB's existing offering with proven and scalable solutions that support our growth ambitions," said Rune Braastad, president of ABB's marine and ports division. "Combined with our global reach and service capabilities, we have a great foundation for continued success."Meanwhile, Novartis (NOVN.SW) secured a positive recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use to extend the existing indication for Novartis Europharm's Leqvio medication to include patients aged 12 and above with heterozygous familial hypercholesterolemia. At closing, the Swiss drugmaker's stock was up 0.22%.

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

Swiss Blue-chip Index Remains in Green; DocMorris Shares Rise

The blue-chip Swiss Market Index was up 0.81% on Thursday's close, stretching its winning streak to a fourth day, as investors mulled over the latest economy-related data and corporate releases.The International Monetary Fund expects Switzerland's gross domestic product to grow 1.1% in 2026, supported by strong housing demand, recent real wage gains, and the Swiss National Bank's (SNBN.SW) accommodative monetary policy. For 2027, economic growth is projected to pick up to 1.2%. The country's inflation rate is anticipated to remain subdued between 0.6% and 0.7% over the 2026 to 2028 period.Across the pond in the US, the annual PCE price index rose 4.1% year over year in May from 3.8% a month before, according to data from the Bureau of Economic Analysis. Meanwhile, the US economy expanded at an annual rate of 2.1% in the first quarter, the bureau's third estimate showed.On the tariffs front, the European Council gave its final approval on the trade agreement signed by the European Union and the US in August 2025. The adopted regulations also contain provisions that would suspend the deal if the US "does not respect its commitments, undermines the objectives of the Joint Statement, or otherwise disrupts balanced trade relations, including through discriminatory measures."Over to corporates, the Swiss government's proposed changes to capital rules, including increasing systemically important bank UBS Group's (UBSG.SW) common equity tier 1 capital, received support from the IMF. The Swiss banking group's shares closed the trading session 1.09% higher."Implementation of the Too Big To Fail (TBTF) package, continued strengthening of financial sector supervision, and enhancing the macroprudential framework will deepen resilience," the IMF said in a concluding statement following an official staff visit. "The proposal to require G-SIBs in Switzerland to fully back foreign subsidiaries with CET1 capital is targeted, commendable, and in line with [Financial Sector Assessment Program] recommendations."DocMorris (DOCM.SW) plans to cut at least 100 full-time positions across the group as it implements its "AI-first" strategy as part of its operational efficiency measures. The Swiss online pharmacy expects the measures to result in annual recurring savings of at least 15 million francs, fully phased in by 2027-end. The stock was 2.97% in the green at closing.

^SSMI$DOCM.SW$UBSG.SW
International

IMF Expects Switzerland's Economy to Grow 1.1% in 2026

The International Monetary Fund expects Switzerland's economy to expand by 1.1% in 2026, supported by an accommodative monetary policy, strong housing demand, and recent real wage gains.For 2027, the country's real gross domestic product growth is projected to pick up to 1.2%, according to a concluding statement published Thursday following an official staff visit. When adjusted for sporting events, GDP growth is forecast to come in at 0.8% in 2026 before rising to 1.5% in 2027.Meanwhile, the country's inflation rate is anticipated to remain subdued over the 2026 to 2028 period, between 0.6% and 0.7%.

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Asia Markets

Swiss Market Index Extends Rally; OC Oerlikon Shares Gain

Swiss stocks extended their gains to a third day, with the Swiss Market Index up 1.49% on Wednesday's close, as investors assessed a fresh batch of corporate and economic updates.Data from UBS & CFA Society Switzerland showed that the country's economic sentiment index plunged to -25 points in June from -11.1 points in May.On the defense front, the Swiss Federal Council reduced the planned temporary increase in the standard rate for value-added tax to 0.5 percentage points from 0.8 percentage points. The revenue generated from the VAT increase will be earmarked for military defense spending for a period of 12 years instead of the previous 10.The council also said it will resume payments to the US for the Patriot missile systems to advance the project with minimal delay and prevent jeopardizing other procurements from the US, including the F-35A fighter jet. Meanwhile, the Federal Department of Defence, Civil Protection and Sport will begin contract negotiations with manufacturers from France, Israel, and South Korea for a second long-range, ground-based air defense system.In corporate news, AlphaValue/Baader Europe confirmed its buy rating on OC Oerlikon (OERL.SW), with a price target of 4.86 francs, as it raised its second-quarter organic sales growth forecast to 5.3% from 2.1% amid price increases on the back of material surcharges. The Swiss surface technologies and advanced materials company's shares gained 3.95% at closing."For the full year, we have only raised our Adj. EBITDA margin forecast to 17.7% from 17.2%, as we expect the opposite effect in H2 for inventory revaluation. However, this impact should be more limited, as the group is now reducing its inventory levels. We believe the company will benefit from this situation. H1 results should act as a catalyst," the research firm said in a note.Eli Lilly (LLY.SW) completed its purchase of clinical-stage company Centessa Pharmaceuticals, which develops a new class of medicines to treat narcolepsy and other sleep-wake disorders.On the geopolitical front, the US Senate approved a war powers resolution in a 50-48 vote seeking to curb President Donald Trump's ability to launch military action against Iran without congressional approval.

^SSMI$LLY.SW$OERL.SW
International

Swiss Economic Sentiment Index Falls in June

Switzerland's economic sentiment index dropped to -25 points in June from -11.1 points in May, according to data from UBS & CFA Society Switzerland published Wednesday.

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Asia Markets

Swiss Market Index Closes Higher; Avolta to Enter Japan's Travel Retail Market

The Swiss Market Index closed 0.45% in the green on Tuesday as investors took stock of the latest private sector and economic data prints at home and abroad.Switzerland's current account surplus climbed to 15.54 billion francs in the first quarter from the revised 2.99 billion francs in the previous three-month period, according to data from the Swiss National Bank (SNBN.SW).Zooming out to the euro area, the S&P Global Flash Eurozone Composite PMI Output Index rose to a three-month high of 49.5 in June from 48.5 in May. The seasonally adjusted provisional reading, however, remains below the neutral 50 threshold."The combination of sluggish growth and fading inflation concerns marks a dovish reading for the [European Central Bank]," ING said. "Both manufacturing and services experienced a slower pace of increase in their input costs and also increased their own prices less quickly than in May. And with energy prices now substantially lower thanks to the US-Iran deal, it could well be that this trend continues in the months ahead (if the deal holds, of course)."On the corporate front, Avolta (AVOL.SW) agreed to purchase luxury travel retailer DFS' operations in Okinawa, marking the Swiss company's entry into Japan's travel retail market. The acquisition is expected to be completed in the third quarter. Avolta's shares were up 0.87% at the end of the trading session.BofA Global Research lowered its price objective for Lindt & Sprüngli's (LISN.SW) registered shares to 134,000 francs from 137,000 francs, with the stock's buy rating maintained, on expectations that the chocolate confectionery manufacturer will report a "slow" organic growth of 3.6% in the first half amid "weakness" in Europe. The stock was up 4.40%."By region, we expect the growth to come from NorAm (9% OG in 1H) and RoW (8% OSG), benefitting from higher carryover pricing (came in later in FY25), with manageable volume pressure (helped by easier volume comps). However, we expect Europe OSG to turn negative (-1% OSG with -10% volume/mix), impacted by tough comps and a weak gifting category (Easter), especially in Germany (27% of Europe)," the research firm said in a note. "On profitability, we expect 10.2% EBIT margin, as we expect negative mix (weak Europe & gifting) to be offset by Inventory pricing."

^SSMI$AVOL.SW$LISN.SW$SNBN.SW
Asia Markets

Swiss Equities Kick Off Week in Green; Idorsia Shares Up

Swiss equities were in positive territory on Monday's close, with the Swiss Market Index up 0.54%, as investors gear up for a busy week filled with business surveys and economic data releases across key economies.Surveyed economic experts now expect Switzerland's real sports-adjusted gross domestic product to grow 0.9% in 2026, down from the 1% projection in March, according to the latest KOF Consensus Forecast. For 2027, economic growth is still anticipated to stand at 1.5%, while the five-year GDP growth rate estimate remains unchanged at 1.6%.Elsewhere and on the geopolitical front, the US and Iran made "encouraging progress" in their peace deal talks in Switzerland aimed at reaching a final agreement within 60 days, agreeing to establish a committee and a "de-confliction" cell involving Lebanon, mediators Pakistan and Qatar said in a joint statement."This marks a notable shift from Saturday's confusion, when Iran suggested the strait was now closed again after Israeli attacks in Lebanon, and briefly stepped back from talks following renewed threats from President Trump, who reiterated that the US would strike again if Iranian-backed proxies in Lebanon continue attacks on Israel," Deutsche Bank Research analysts said. "Despite that rhetoric, oil flows through Hormuz have continued and even picked up over the weekend, helping to calm markets, with Brent reversing earlier gains this morning before details of the talks came through."In the UK, Keir Starmer resigned as prime minister and leader of the Labour Party. He will remain in his post until a new party leader is selected, which is expected to take place before parliament returns in September.Over to corporates, Lonza (LONN.SW) signed a new licensing agreement with US-based biotechnology company InduPro to advance the development of innovative antibody-drug conjugate therapies. Under the deal, InduPro will gain a nonexclusive global license to the Swiss pharmaceutical manufacturer's proprietary GlycoConnect, HydraSpace and linker-payload technologies. Lonza closed the trading session 0.34% higher.Deutsche Bank Research raised its price target for Idorsia (IDIA.SW) to 4.50 francs from 4 francs, with a reaffirmed hold rating on the stock, ahead of the biopharmaceutical company's first-half results. Idorsia shares were up 1.67% at closing."Following the recent DD move - out of line with both the Swiss market and European healthcare -we take the opportunity to outline our view on (1) potential key drivers of the move and (2) revisit the investment thesis ahead of Q2 results (30th July), noting the underlying fundamental story remains unchanged and we reiterate our HOLD recommendation," the research firm said. "In the absence of fundamental newsflow across the three key catalysts highlighted in our post-Q1, we view the recent reaction as largely technical rather than fundamental driven."

^SSMI$IDIA.SW$LONN.SW
International

Swiss Overnight Hotel Stays Down 0.9% in May, Flash Data Shows

Hotels in Switzerland recorded a 0.9% year-over-year decline in overnight stays for May, according to a flash estimate published by the Federal Statistical Office on Monday.Hotel bookings by Swiss nationals edged down 0.4% on an annual basis, while bookings from foreigners fell 1.3%.

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International

KOF: Forecasters Trim Swiss GDP Projection for 2026; Inflation Outlook Raised

Professional forecasters revised their 2026 real seasonally adjusted gross domestic product growth estimate and inflation forecasts for Switzerland, according to a quarterly survey by the KOF Swiss Economic Institute published Monday.According to the KOF Consensus Forecast for the second quarter, survey participants' 2026 growth expectations now stand at 0.9%, against the March survey projection of 1%.Meanwhile, the 2027 and five-year GDP growth rate estimates were unchanged at 1.5% and 1.6%, respectively.The forecasters also revised their average inflation rate projections upwards by 0.3 percentage points to 0.7% for 2026, and by 0.2 percentage points to 0.8% for 2027. Conversely, inflation expectations for five years out remained at 0.9%.The consensus unemployment rate assumption for 2026 held steady at 3.1%, while the 2027 outlook for the Swiss labor market ticked up to 3.1% from 3%.

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Asia Markets

Swiss Market Index Closes Week Little Changed; US-Iran Talks Postponed

Swiss stocks concluded the trading week little changed amid a quiet day of economic news locally and light trading volumes due to a US holiday.The Swiss Market Index was up 0.06% at the end of Friday's trading session.On the geopolitical front, the planned talks between the US and Iran set to take place today in Switzerland regarding the implementation of the recently signed memorandum of understanding were postponed "for the time being," the Swiss Federal Department of Foreign Affairs said in a release without specifying any reasons for the cancellation. Preparations for the talks at the Bürgenstock, however, were continuing.The postponement comes as Israel launched airstrikes in Lebanon, Reuters and other media outlets reported.In corporate news, Holcim (HOLN.SW) completed its purchase of Germany-headquartered walling systems company Xella as part of its growth strategy, with the acquisition expected to be accretive to the Swiss building materials company's EPS and cash flow from the first year. Holcim's shares closed the session 0.67% lower.Berenberg raised its price target for Eli Lilly (LLY.SW) to $1,135 from $1,050, with an unchanged hold rating on the stock, taking into account higher expectations for the Switzerland-listed pharmaceutical company's injectable obesity franchise."Eli Lilly delivered excellent P3 efficacy and safety data for retatrutide (tri-agonist) at the ADA conference; we raise our forecasts accordingly. Meanwhile, the launch ramp of Foundayo (oral GLP-1) remains slow, in sharp contrast with that of Novo's Wegovy pill. Our Foundayo forecasts are below consensus," the research firm said. "In H2, we expect additional P3 retatrutide and Foundayo obesity co-morbidity data, P2 tirzepatide plus eloralintide obesity combination data and P3 remternetug data in Alzheimer's disease."

^SSMI$HOLN.SW$LLY.SW
Asia Markets

Swiss Blue-chip Index Blinks Red; Swiss National Bank Holds Rate

The Swiss Market Index slipped into the red on Thursday, closing 0.36% lower, as investors digested the details of the 14-point initial agreement signed by the US and Iran amid a busy day of economic data releases and monetary policy decisions across key markets.The Federal Government Expert Group on Business Cycles downwardly adjusted its 2026 sport event-adjusted gross domestic product growth estimate for Switzerland to 0.9% from the previous 1% forecast, mainly due to increased energy prices caused by the war in the Middle East and continued uncertainty related to international trade and economic policy. For 2027, the Swiss economic growth forecast was trimmed to 1.6% from 1.7%.Meanwhile, Switzerland's trade surplus stood at 5.64 billion francs in May, up from the revised 3.28 billion francs in April, data from the Federal Office for Customs and Border Security showed. Seasonally adjusted exports jumped 13.4%, while imports rose 3.4%.In regulatory news, the Swiss National Bank (SNBN.SW) maintained its policy rate at 0%, as expected, saying medium-term inflationary pressure remains "virtually unchanged" despite an increase in inflation over the last few months due to higher energy prices."While early-year deflation concerns have eased, the risk of a significant inflation pick-up in the coming months appears limited. The SNB now forecasts inflation at 0.6% in both 2026 and 2027, and 0.7% in 2028 - each revised up slightly by 0.1pp compared to March projections. Inflation is expected to reach 0.8% in the first quarter of 2029," ING said in a note. "Overall, the outlook remains benign, with inflation comfortably within the SNB's target range. In our view, this points to an unchanged monetary policy stance in the coming quarters. We expect policy rates to remain at 0% for at least the next two years."On the corporate front, AlphaValue/Baader Europe raised its price target for Belimo (BEAN.SW) to 858 francs from 776 francs, with the stock rated sell, viewing the Swiss heating, ventilation, and air-conditioning control devices company's addressable market as larger than previously anticipated. Belimo's shares were up 0.52% at closing."Our target price increases as we have revised upward our assumptions regarding AI-related capital expenditures, particularly in the US, where data centre investments continue to accelerate," the research firm said. "In addition, we view the current trade environment as becoming more constructive than previously feared. While Belimo remains exposed to tariffs and trade-related uncertainties, we believe the recent EU-US trade agreement reduces the risk of further escalation, and provides a more stable backdrop for cross-border industrial activity."

^SSMI$BEAN.SW$SNBN.SW
International

Swiss Annual Construction Prices Gain 1% in April

Construction prices in Switzerland rose 1% year over year in April, according to data from the country's Federal Statistical Office published Thursday.Between October 2025 and April 2026, the construction price index edged up 0.6%, driven by an increase in building and civil engineering prices.

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