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Swiss Market Index (SMI)

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207 stories mentioning Swiss Market Index (SMI)Updated 28m 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 Stocks Extend Gains; Ypsomed Jumps on FY26 Results

The Swiss Market Index continued its winning streak on Wednesday, closing 0.26% higher, as earnings updates from companies continued to pour in.Ypsomed Holding (YPSN.SW) climbed 9.33% at close after reporting a surge in net profit for the year ended March 31, 2026, to 221.9 million francs from 87.5 million francs, while net sales from goods and services fell. Looking ahead, the injection and infusion systems maker expects 12% to 15% revenue growth in fiscal 2027, and 900 million francs to 1.1 billion francs in total revenue in the medium term.Meanwhile, EFG International (EFGN.SW) gained 0.69% as the private bank's net profit for the four months to April 30 clocked in at more than 130 million francs, compared with around 130 million francs a year ago.AlphaValue/Baader Europe maintained its positive view on Aevis Victoria (AEVS.SW) following the investment company's first-quarter results. The stock is rated buy, with a price target of 17.8 francs."Ahead of its Capital Market Day scheduled for today, AEVIS delivered a buoyant Q1 performance, highlighted by a remarkable profitability rebound at Swiss Medical Network and steady operational improvements at Infracore, which is actively preparing to go public," the research firm said. Aevis Victoria was down 0.75%.Elsewhere and in geopolitical news, Iran warned that the Middle East war would "spread far beyond the region" if the US and Israel resumed their attacks on the country following US President Donald Trump's threats.On the economic front, analysts are anticipating the release of the country's industrial production data for the first quarter on Thursday. The consensus estimate is a 0.5% rise, compared with the previously reported 0.7% decline.

^SSMI$AEVS.SW$EFGN.SW$YPSN.SW
Asia Markets

Swiss Market Index Closes Higher; Sika, Aevis Victoria Shares Up

The Swiss Market Index remained in positive territory on Tuesday, closing 0.94% higher, amid a quiet day of local economic news.Swiss President Guy Parmelin met with German Chancellor Friedrich Merz in Berlin to further strengthen bilateral ties. Among the topics discussed were economic policy, research and innovation, and the European security architecture.Meanwhile, Switzerland and Luxembourg agreed to set up regular financial dialogue between the two countries as part of efforts to boost Europe's competitiveness in the financial sector.Zooming out to the UK, the unemployment rate unexpectedly came in at 5% in the three months to March, up from 4.9% in the three months to February.On the corporate side, Swiss investment company Aevis Victoria's (AEVS.SW) consolidated net revenue reached 299.1 million francs in the first quarter, up 1.8% year over year. Profit before taxes also rose to 21.5 million francs from 13.1 million francs. The stock added 1.14% at the end of the trading session.Sika (SIKA.SW) is expanding its production capacity in the US by opening a new manufacturing facility for mortar products in New Jersey to meet growing customer demand in major metropolitan areas. The Swiss specialty chemicals company's new site will offer mortar leveling and repairs, tile adhesives, and shotcrete systems. Sika's shares were up 0.36% at closing."Our new plant in Bridgeton is a strategic expansion of our production network in the USA and creates a solid basis for further growth in the northeastern part of the country. It enables us to quickly meet the growing demand from customers for our value-adding solutions and to further develop our presence in an economically strong region," said Mike Campion, Sika's regional manager for the Americas.

^SSMI$AEVS.SW$SIKA.SW
Asia Markets

Positive Economic Growth Lifts Swiss Stocks; Sonova Gains

Swiss stocks welcomed the new trading week in the green, with the Swiss Market Index closing 0.16% higher on Monday, as investors get ready for a busy week of economic data releases across key global markets.Switzerland's seasonally and sport event-adjusted gross domestic product expanded by 0.5% in the first quarter, following a 0.2% uptick in the prior three-month period, supported by growth in the industrial and services sectors, provisional government data showed.On the labor market front, the country recorded a 0.2% annual growth in the number of employed people in the first quarter, while the unemployment rate rose to 5.2% from 4.7%, according to the latest Swiss Labour Force Survey.Over to corporates, Sonova (SOON.SW) booked sales of 3.61 billion francs in fiscal 2026 and income after taxes of 546 million francs, up 5.9% and 13.9%, respectively, in local currencies. Looking ahead to fiscal 2027, Sonova forecasts consolidated sales growth of between 5% and 8% at constant exchange rates. The Swiss hearing care company's stock gained 7.87% at closing."Strong growth in our Wholesale business, accelerating to 10.9% in local currencies in the second half, reflects our technology and innovation leadership and consistent execution," Chief Executive Officer Eric Bernard said. "With the intended divestment of the Consumer Hearing business, the transition to a regionalized operating model, and a strong pipeline of upcoming product launches across hearing aids and cochlear implants, we are executing our strategy as planned."PolyPeptide Group (PPGN.SW) slipped 0.80% amid chatter that it selected private equity firms EQT and IDG Capital to move forward to its next bidding round, Bloomberg News reported. The sources added that investment company Altaris is also looking at a potential offer for the Swiss pharmaceutical-focused contract development and manufacturing organization.

^SSMI$PPGN.SW$SOON.SW
Industry, Services Drive Switzerland's First-quarter GDP Growth; Unemployment Up
US Markets

Industry, Services Drive Switzerland's First-quarter GDP Growth; Unemployment Up

Switzerland's economic expansion picked up in the first three months of 2026 amid growth observed in both the industrial and services sectors.Switzerland's seasonally and sporting event-adjusted gross domestic product edged up 0.5% in the first quarter, according to provisional data from the State Secretariat for Economic Affairs published Monday. The reading, which follows a 0.2% rise in the previous three-month period, marks the second straight quarter of recovery following a brief, US tariff-induced contraction in the third quarter of 2025.In a separate same-day release, the Federal Statistical Office said Swiss employment ticked up by 0.2% year-over-year in the first quarter of 2026. In the final three months of 2025, Swiss employment was up 0.1%.Meanwhile, the nation's unemployment rate, as defined by the International Labour Organization, rose to 5.2% from 4.7% during the same period last year. Conversely, Switzerland's seasonally adjusted quarterly unemployment rate saw a minor improvement to 5% from 5.1% previously.In an economic forecast report published March 18, 2026, the KOF Swiss Economic Institute projected the country's real GDP growth, adjusted for major sporting events, to grow by 1% in 2026 and 1.7% in 2027. The forecast accounts for the shifting US trade policies and the ongoing conflict in the Middle East, which KOF noted faced "substantial" downside-skewed risks. Should war-driven oil prices remain 30% higher on a sustained basis, economic growth is projected to decelerate to 0.7% in 2026 and 1.5% in 2027."Against this backdrop, Swiss output is expected to remain below potential for the time being. Private consumption remains a key pillar. It has recently been robust and is expected to stay resilient over the forecast period, supported by low inflation and stable wage growth despite a weaker labour market. Government consumption, by contrast, is likely to increase only moderately. The federal government's planned consolidation measures under the 2027 budget relief package will weigh on growth," KOF said.

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International

Switzerland's Quarterly GDP Up 0.5% in Q1, Flash Data Shows

Switzerland's seasonally and sport event-adjusted gross domestic product ticked up 0.5% in the first quarter, compared with the prior three-month period, provisional data from the State Secretariat for Economic Affairs showed Monday.The expansion reflects positive contributions from both the industrial and services industries.

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International

Swiss Employment Rises 0.2% in Q1

The number of employed people in Switzerland grew by 0.2% year over year in the first quarter, the Federal Statistical Office said Monday.The Swiss unemployment rate, as defined by the International Labour Organization, increased to 5.2% from 4.7% a year ago, according to the latest Swiss Labour Force Survey.On a seasonally adjusted basis, Switzerland's quarterly unemployment rate was down by 0.1 percentage point to 5% in the first quarter.

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Asia Markets

Swiss Stocks Close Week Flat; US Fed Ends Actions Against UBS, Credit Suisse

The Swiss Market Index was up 0.05% on Friday's close amid a quiet day of local economic news following the Ascension Day holiday.Sandoz Group (SDZ.SW) secured marketing authorization from the European Commission for its insulin lispro biosimilar Bysumlog to treat diabetes mellitus in adults and children, while its insulin aspart biosimilar Dazparda was approved for the treatment of the same condition in adults, adolescents, and children aged one year and above. Both injectable biosimilars are comparable in efficacy and safety to their reference medicines. At closing, the Swiss pharmaceutical major's stock was 3.36% in the red.Meanwhile, Berenberg left Zurich Insurance Group's (ZURN.SW) buy rating and price target of 656 francs unchanged following its first-quarter trading update, noting the insurer's "attractive" valuation and better-than-expected growth in gross premiums in its non-life insurance segment. Zurich's shares closed the session 0.46% higher."This strong commercial non-life gross premium growth is noteworthy, as we believe that it was achieved at attractive margins; for example, pricing in North America commercial improved modestly from -1% in 2025 to 0% in Q1 2026. Zurich in its results also indicated that the 7% growth in the midmarket may accelerate in H2 2026, as the new mid-market underwriters in the US gain traction," the research firm said in a note. "We believe that this strong gross premium growth will lead to strong operating profit growth. We believe that the strong rise in Zurich's solvency ratio from 259% at FY 2025 to 265% at Q1 2026, ahead of 261% consensus, reflects part of the benefit of higher earnings."In other news, the US Federal Reserve Board terminated enforcement actions against UBS Group (UBSG.SW) and its Credit Suisse units, effective Tuesday. This relates to the consent order and $268.5 million fine issued by the Fed to the Swiss group in July 2023, due to Credit Suisse's "unsafe and unsound counterparty credit risk management practices" with Archegos Capital Management. UBS fell 0.69%.Looking ahead, the upcoming week will see the first-quarter data for Switzerland's economic growth and industrial production.

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

Swiss Market Index Remains in Green; Adecco Tumbles

The Swiss Market Index remained in the green on Wednesday, closing 0.71% higher, as earnings updates from corporate majors and economy-related data prints poured in.Zurich Insurance Group's (ZURN.SW) insurance revenue from its property and casualty segment climbed to $12 billion in the three months ended March 31 from the year-ago $10.78 billion, while gross written premiums climbed 17% on a reported basis to $15.56 billion. The life insurance business delivered a 5% reported growth in gross written premiums and deposits to $9.85 billion. Zurich's stock gained 4.07% at closing."All our businesses started the year strongly, with growth accelerating across targeted business lines and customer segments, including Specialty, Middle Market and Life Protection. Combined with our geographic diversification, these results highlight the resilience of our business model and the strength of our franchise," Group Chief Financial Officer Claudia Cordiol said. "Thanks to our strong capital position, we are well positioned to navigate the current uncertain environment and stay on track to meet or exceed our 2027 targets."On the flip side, Adecco (ADEN.SW) saw its shares fall 16.67% as it booked a year-over-year decline in gross profit to 1.06 billion euros from 1.08 billion euros in the first quarter, with gross profit margin down 60 basis points to 18.8%, negatively impacted by currency effects. The Swiss recruitment services company's revenue and net income attributable to shareholders, on the other hand, grew 2% and 16% over the period, respectively.On the defense front, Switzerland maintained its suspension of payments to the US for Patriot missile systems amid a further delay in delivery and higher costs due to the ongoing war in the Middle East. The Swiss government said it is reviewing potential options presented by the US and is awaiting feedback from five other suppliers of long-range, ground-based air defense systems from Germany, France, Israel, and South Korea.Elsewhere and in economic news, the euro area's seasonally adjusted gross domestic product inched up 0.1% in the first quarter, after a 0.2% increase in the prior three-month period, according to Eurostat's second estimate. Meanwhile, flash data showed that the number of employed individuals in the euro area ticked up 0.1% in the first quarter following a 0.2% rise in the previous quarter.The SIX Swiss Exchange is set to reopen on Friday after tomorrow's Ascension Day holiday.

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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.

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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.

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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."

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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.

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