207 stories mentioning Swiss Market Index (SMI)Updated 42m 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 seasonally adjusted unemployment rate increased 3.1% in May from 3% a month ago, according to data from the State Secretariat for Economic Affairs published Thursday.At the end of May, 144,652 individuals were registered as unemployed, up by 2,583 from a month ago.
Switzerland's annual inflation rate stood at 0.6% in May, unchanged from the previous month, according to data from the country's Federal Statistical Office published Thursday.The consensus estimate for the month was 0.8%.On a monthly basis, consumer prices were 0.2% higher, compared with the prior and expected 0.3% gain.
The Swiss Market Index ended Wednesday trading 0.66% lower after the US and Iran exchanged fresh strikes overnight, dampening investor sentiment and casting doubt on the prospects for a temporary peace deal.The US Central Command said US forces launched "self-defense strikes" on Qeshm Island in the Strait of Hormuz "in response to attempted attacks by Iran across the Middle East." It added that Tehran fired missiles at Kuwait and Bahrain, which broke apart or were immediately intercepted. Meanwhile, Iran's foreign ministry "strongly condemned" the US attack on the Iranian tanker and Qeshm, Bloomberg News reported.In trade news, Switzerland is one of the 60 countries facing additional US tariffs following an investigation into imports of goods allegedly made with forced labor. The proposed additional duties range from 10% to 12.5%."[The] results of this investigation indicate that the acts, policies and practices of Switzerland related to the failure to impose and effectively enforce a forced labor import prohibition are unreasonable and burden or restrict U.S. commerce," according to a report by the US Trade Representative.On the corporate front, Partners Group (PGHN.SW) is limiting withdrawals at its $8.6 billion Global Value SICAV fund to 5% of net asset value per quarter, following a surge in redemption requests in the second quarter, Bloomberg News reported, citing a letter to investors it saw. The private equity firm sank 16.33% at close.Meanwhile, Nestlé (NESN.SW), which owns a 49% stake in yfood Labs, agreed to buy the remaining stake in the smart food brand from its founders for an undisclosed sum. The share transfer is expected July 3, subject to customary approvals. The food and beverage giant was down 0.62%.The Swiss government is due to release inflation and labor data on Thursday.
The US on Tuesday proposed additional tariffs on 60 economies, including the European Union, following an investigation into the enforcement of forced labor import prohibitions.As part of a Section 301 investigation, the Office of the US Trade Representative threatened an extra 10% duty on the EU, stemming from findings that the bloc failed to "effectively" block forced labor imports. The proposed tariffs were announced on the same day that the European Parliament's trade committee granted preliminary approval for a trade agreement reached with the US in the third quarter of 2025.The targeted 27-nation bloc joins countries like Canada, Mexico and Pakistan, which will face the 10% tariff rate because they established partial enforcement regimes or have committed to doing so through reciprocal trade agreements. Meanwhile, other economies, including Switzerland, Saudi Arabia, South Africa and the United Arab Emirates, will be hit by a steeper 12.5% tariff rate on failure "to impose and effectively enforce a prohibition on the importation of goods produced with forced labor.""The failure of our most important trading partners to address the importation of goods made with forced labor is unacceptable," said US Trade Representative Jamieson Greer. "This creates a dynamic where American workers are forced to compete globally on an unlevel playing field. We will no longer tolerate this disparity."The United States Trade Representative invited public feedback on the proposal, setting a deadline of July 6 for written comments and scheduling public hearings for July 7.Danske Bank noted that the move clears the path for permanent tariffs to take over when the 10% Section 122 duties expire on July 24. "While the shift in legal basis could still face court challenges, overall tariff levels for now should remain little changed when the authority 'switches' from Section 122 to Section 301," the bank wrote.
The Swiss Market Index closed Tuesday trading flat as investors digested the latest local corporate updates as well as developments in the Middle East.The US Food and Drug Administration accepted Roche's (RO.SW) new drug application for giredestrant on a priority review basis. The investigational treatment is an oral selective estrogen receptor degrader indicated as an adjuvant treatment for adults with estrogen receptor-positive, human epidermal growth factor receptor 2-negative, stage 1, 2, and 3 breast cancer. The drugmaker was down 2.59%.Meanwhile, Bloomberg News reported, citing a source, that UBS Group (UBSG.SW) plans to issue at least $500 million of perpetual Additional Tier 1 bonds, with a potential coupon of 7.5% and a first call date in late 2032. The lender, which rose 1.17%, had no comment when reached by.RBC Capital Markets upgraded its price target and earnings forecasts for Compagnie Financière Richemont (CFR.SW) after the sector perform-rated luxury goods company published its fiscal 2026 financial report."Richemont's 4Q26 confirmed strong Jewellery Maisons revenue momentum (+16%), though earnings uplift was more modest given softer gross margin, higher [operating expenses] (inc one-offs) and tax rate. For FY27E, we expect continued momentum for its Jewellery Maisons (+10%), although [we] do expect price increases to moderate somewhat in line with moderating gross margin headwinds, particularly in 2H27E. Raising revenue estimates by 3% and EPS by 2%, although we remain slightly below consensus. We roll forward our DCF, resulting in a revised [price target] of CHF 175 (from CHF 165)," the research firm said. Richemont edged up 0.66%.In economic news, Switzerland's watch exports tumbled 16.6% year over year to 2.13 billion francs in April, owing to a value decline across nearly all material categories, particularly precious metal watches and steel models, according to the Federation of the Swiss Watch Industry.On the geopolitical front, Tehran is reviewing Washington's proposed temporary agreement to end the conflict in the Middle East, Reuters reported, citing Iran's Mehr News Agency. Iran has not responded to a proposed final text of the deal, according to the report.
Switzerland's watch exports fell 16.6% year over year to 2.13 billion francs in April, due to a value decline across nearly all material categories, particularly precious metal watches and steel models, the Federation of the Swiss Watch Industry said Tuesday.Exports of wristwatches dropped 17.5%, while the other products category rose 5.6%.In the first four months of 2026, overseas shipments decreased 3.9%.
The Swiss Market Index started the week in the red, tumbling 1.75% on Monday's close, as reports of a new source of tensions between the US and Iran overshadowed the releases of the country's gross domestic product and retail sales.Iranian negotiators will suspend talks and the exchange of documents with their US counterparts in protest of Israeli aggression in Lebanon, Bloomberg News reported, citing a statement carried by the semi-official Tasnim news agency. The suspension follows a fresh exchange of fire between Tehran and Washington over the weekend, even as the two sides had been indirectly negotiating terms of a draft deal that would extend their ceasefire agreement by 60 days.Back home and in economic news, Switzerland's final gross domestic product, adjusted for sporting events, rose 0.4% in the first quarter, compared with the flash estimate of a 0.5% increase and the prior quarter's 0.2% rise. The State Secretariat for Economic Affairs attributed the growth to the industrial sector.Meanwhile, Swiss retail sales inched up 0.1% month over month in April, following a revised 0.3% gain in March, data from the Federal Statistical Office showed. In other economic news, the procure.ch-UBS manufacturing PMI climbed to 57.3 in May from 54.5 in April, surpassing the consensus estimate of 54.On the corporate front, Landis+Gyr Group (LAND.SW) confirmed its mid-term estimates through 2028, including a mid-single-digit revenue compound annual growth rate and adjusted EPS CAGR more than 5x the rate of revenue. The Swiss energy technology company was down 1.48%."With the introduction of our new business segments, we are well positioned to capitalize on significant growth opportunities across the evolving energy landscape. Supported by the strongest pipeline in our history and accelerating customer adoption of our technologies, we have built approximately $4 billion in backlog, providing exceptional revenue visibility and underpinning a durable, predictable growth model during this period of generational industry transformation," Chief Executive Officer Peter Mainz said in the company's Capital Markets Day 2026 release.
Switzerland's manufacturing PMI increased to 57.3 in May from 54.5 in April, according to procure.ch and UBS data published Monday.The consensus estimate for the month stood at 54.
Switzerland's seasonally and sporting event-adjusted gross domestic product increased 0.4% in the first quarter, following a 0.2% uptick in the previous quarter, data from the State Secretariat for Economic Affairs showed Monday.The final reading was below the flash estimate of a 0.5% gain. Not adjusted for sports events, the quarterly GDP was 0.7% higher, against the revised 0.2% increase in the prior three-month period.On a yearly basis, the sport event-adjusted GDP climbed 0.3% during the three-month period, against the revised 1.1% gain earlier. Not adjusted for sports events, Swiss GDP increased 0.5%, following the prior revised 1% rise.
Retail sales in Switzerland rose 0.1% month over month in real terms in April, after a revised 0.3% gain in March, the country's Federal Statistical Office said Monday.On a yearly basis, seasonally adjusted retail sales were 1.6% higher, compared with the revised 1.3% jump earlier and the consensus estimate of a 0.2% growth.
Swiss shares ended the week on a cautious note of optimism as markets awaited confirmation of a potential extension to the US-Iran ceasefire along the Strait of Hormuz.The Swiss Market Index closed 0.28% higher on Friday, finishing the week in the green after reports that US and Iranian diplomats reached a tentative deal to extend their ceasefire by 60 days and open a new round of talks on Tehran's nuclear program.In corporate news, UBS Group (UBSG.SW) reportedly let go of several hundred staff across its offices in Europe, the Middle East and Africa as part of integration efforts following its 2023 takeover of Credit Suisse, sources told Bloomberg. UBS had no comment on the Bloomberg story, but toldthat it will keep the number of job cuts related to the integration at home and globally "as low as possible." The stock was up 0.95%.Looking outside the blue-chip index, Dottikon ES (DESN.SW) plunged 20.92% after reporting lower earnings for its fiscal year ended March 31 and scrapping its dividend, citing the need to reinvest in the business.Meanwhile, Sandoz Group (SDZ.SW) was 0.43% higher at close after it filed a draft anti-dumping complaint with the European Commission regarding Chinese imports of amoxicillin, which the pharmaceutical company said are clearly distorting the market with below-cost pricing and state subsidies.On the economic front, the KOF Swiss Economic Institute's economic barometer increased to 98 points in May from the revised 97.8 points in April. KOF said the figure, which remains below the indicator's medium-term average, reflects a "muted" Swiss economy.The next week will bring a fresh batch of Swiss economic data, starting with April retail sales and the final reading of first-quarter GDP on Monday, followed by April trade numbers on Tuesday. May inflation and unemployment numbers will be released on Thursday.
The KOF Swiss Economic Institute's economic barometer increased to 98 points in May from the revised 97.8 points in April, according to a Friday release.Analysts expected 98 points for the month.KOF said the figure, which remains below the indicator's medium-term average, reflects a "muted" Swiss economy.
Swiss shares dropped alongside European peers on Thursday, with the Swiss Market Index closing 0.90% lower, as a fresh escalation in tensions between the US and Iran weighed on investor sentiment.US forces struck down Iranian drones in a fresh bout of fighting along the Strait of Hormuz, prompting retaliation from Tehran despite a ceasefire agreement remaining in place. US President Donald Trump said earlier that the strait is "going to be open to everybody" and suggested that the military "go back and finish it."Among the biggest decliners in the blue-chip index were Partners Group (PGHN.SW), Swiss Life (SLHN.SW) and Alcon (ALC.SW), which fell 2.46%, 2.41% and 1.97%, respectively.Meanwhile, Galenica (GALE.SW) reported sales growth of 7.3% to 1.41 billion francs in the first four months of 2026, driven by strong performance in its pharmacy and wholesale businesses. The company confirmed its 2026 guidance, including sales growth of 5% to 7%. The stock was down 0.66% at close.On the economic data front, data from the Federal Statistical Office showed nonfarm payrolls growing 0.5% annually in the first quarter, compared with a 0.2% uptick in the previous three months.KOF leading indicators are scheduled for release on Friday.
Switzerland's nonfarm payrolls grew 0.5% year over year in the first quarter, compared with the 0.2% gain in the previous three months, according to data published by the country's Federal Statistical Office on Thursday.On a quarterly basis, the seasonally adjusted figure rose 0.4%.Over 5.5 million employees were recorded by companies in Switzerland, excluding agriculture, for the three-month period.
Swiss shares extended gains for a second straight day, with the Swiss Market Index up 0.75% on Wednesday, underpinned by a rebound in investor confidence and a global boom in technology stocks.The UBS and Swiss CFA Society sentiment index improved to -11.1 in May from -30.3 in April, with 75% of analysts surveyed now expecting economic conditions in Switzerland to remain unchanged over the next six months.On the corporate front, Switzerland-traded stocks of US-based memory and storage systems company Micron Technology (MU.SW) surged 23.09%. The company crossed $1 trillion in market capitalization in overnight trading in the US, driven by a boom in artificial intelligence chips.Lem Holding (LEHN.SW) shares rose for a second straight day, with gains of 9.40% at close, following the company's announcement of a strategic review.Meanwhile, Hong Kong has overtaken Switzerland as the world's largest offshore wealth hub on the back of capital flows from mainland China, according to Boston Consulting Group. Cross-border assets under management in Hong Kong reached $2.95 trillion in 2025, while AUM in Switzerland amounted to $2.94 trillion.Looking ahead to the rest of the week, non-farm payrolls for the first quarter are due on Thursday, while KOF leading indicators are scheduled on Friday.
Switzerland's economic sentiment index increased to -11.1 points in May from -30.3 points in April, according to data from UBS & CFA Society Switzerland published Wednesday.
Swiss shares started the week in the green after the Whit Monday holiday as investors digested developments in the Middle East.The Swiss Market Index closed 0.17% higher on Tuesday, after reports that the US and Iran exchanged fire near the Strait of Hormuz, with an interim peace deal between the two sides remaining elusive.On the corporate front, Lem Holding (LEHN.SW) shares surged 24.85% after it reported higher earnings for fiscal 2026 and reconfirmed its midterm targets, including average annual sales growth of 4% to 7% at constant exchange rates and an improvement in the EBIT margin to between 10% and 15%.The electrical measurement systems company also announced the start of a strategic options review, saying it has "drawn the attention of certain interested parties." Lem noted that there can be no assurances that the review will result in any transaction.Julius Baer (BAER.SW) rose 2.97% after BofA Securities upgraded its investment recommendation on the financial group to buy from neutral and reduced its price objective. BofA said a recent 7% fall in the company's stock offers an attractive entry point to investors."Although flows missed, we expect organic growth to strengthen towards guidance by 2028. We forecast 17% EPS CAGR in 2025-28E driven by 1) improving operating leverage and flows, and 2) share buybacks of CHF1.4bn (11% of market cap)," BofA added.Deutsche Bank, however, lowered its forecasts for Julius Baer by a low to mid-single-digit percentage, citing lower-than-expected assets under management and a reduction in share buybacks. "While transactional activity was strong in the first four months of 2026, boosting gross margin and the cost-income ratio, net new money disappointed."Looking ahead, the CS-CFA Society economic sentiment index for May is due on Wednesday, the latest quarterly non-farm payrolls are scheduled for Thursday, and the KOF leading indicators are due on Friday.
The Swiss Market Index extended its growth streak to Friday, closing 0.42% higher, amid the release of earnings from two corporate majors.Compagnie Financière Richemont's (CFR.SW) attributable profit for the 12 months ended March 31 climbed to 3.48 billion euros from 2.75 billion euros, while its revenue rose to 22.42 billion euros from 21.40 billion euros. The Swiss luxury goods giant fell 0.57% at close."Richemont delivered again on the top line in 4Q but the gross margin pressures from gold and FX are still weighing on investor sentiment," Deutsche Bank Research said. "Overall a good exit rate in 4Q supported by the special dividend and although the EBIT was a slight miss if we add back the (Euro)164m of impairment charges and write downs this was a small beat."In other corporate news, Julius Bär Gruppe's (BAER.SW) assets under management in the first four months of 2026 increased to a record 528 billion francs from 467 billion francs a year ago. Looking ahead, the Swiss private banking group expects its IFRS net profit for the first half to be "substantially higher" than the previous year. The shares dropped 6.93%."While the [gross margin] was exceptionally strong based on high activity levels, this is not sustainable according to JB and the continued headwind to [net new money] from its risk review (but also heightened market uncertainty) is disappointing. JB made progress on its cost income ratio but to a large extent this is based on the stronger top line," according to RBC Capital Markets. The stock is rated outperform, with a price target of 72 francs.In geopolitical developments, Iran's Foreign Minister Abbas Araqchi met with Pakistan's Interior Minister Syed Mohsin Naqvi in Tehran on Friday to discuss proposals to end the war, according to Iranian media reports. The talks came as Tehran and Washington continued negotiations over Iran's uranium stockpile and control of the Strait of Hormuz, with US Secretary of State Marco Rubio saying there had been "some good signs" in recent discussions, Reuters reported.Back home and on the economic front, Switzerland's calendar was empty for the day, while the CS-CFA Society economic sentiment index and KOF leading indicators for May, as well as nonfarm payrolls for the first quarter, are on next week's agenda.The SIX Swiss Exchange will be closed May 25 for the Whit Monday public holiday, with trading to resume on May 26.
The Swiss Market Index gained 0.35% on Thursday's close, extending its winning streak, as investors assessed the latest industrial production data and corporate updates.The country's industrial production, adjusted for calendar effects, declined 7.1% year over year in the first quarter, following a revised 0.4% fall in the previous three-month period, data from the Federal Statistical Office showed. Analysts expected a 0.5% rise for the month.Elsewhere and in geopolitical news, Iran said the latest US proposal has partly narrowed differences as both sides seek to turn a fragile ceasefire into a broader peace deal. Tehran, which is reviewing a response to Washington's text, said further progress would require an end to US "temptation for war," while reiterating calls for a full halt to hostilities and the unfreezing of sanctioned assets, Bloomberg News reported.Back home and on the corporate front, Swiss Life Holding (SLHN.SW) posted higher fee income and premiums for the first quarter, while announcing the purchase of Germany-based Telis Group with 1,800 certified advisers. The Swiss life insurer, which was up 0.75% at close, expects to close the deal in the third quarter."We achieved pleasing top-line growth in the first quarter of 2026 and further increased both the fee and the insurance business," Swiss Life Group Chief Executive Officer Matthias Aellig said. "I am particularly pleased with the growth in our fee business across all divisions. With our performance in the first quarter of 2026, we are well on track with the 'Swiss Life 2027' programme."Meanwhile, dsm-firmenich (DSFIR.SW) gained 6.42% at the end of its first trading day on SIX Swiss Exchange. The nutrition, health and beauty company, which is also listed on Euronext Amsterdam, said the dual listing does not include a new share issue and will not impact its capital structure.In other news, Partners Group Holding (PGHN.SW) launched its new control private equity strategy, called Total Return Strategy, focused on lower leverage, income-generating investments. The Swiss private equity firm, which fell 1.06%, said the strategy aims for mid-teens total gross returns and an initial gross annual dividend yield of 5% to 8%.
Switzerland's industrial production, adjusted for calendar effects, fell 7.1% year over year in the first quarter, following a revised 0.4% decline in the prior three-month period, the country's Federal Statistical Office said Thursday.The consensus estimate for the month was a 0.5% increase.
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