Swiss Market Index Ends Week Upbeat; Amrize Falls
The blue-chip Swiss Market Index bounced back to positive territory on Friday, closing 0.18% higher, as investors assessed the latest corporate updates and economic data prints.Switzerland's consumer sentiment index improved to -34.8 points in July from -35.8 points in June. In the previous year, the index stood at -32.8 points. The State Secretariat for Economic Affairs said the separate indices for financial outlook, past financial situation and the moment to make major purchases deteriorated year over year, while the indicator for economic outlook "barely changed."Meanwhile, the country's foreign currency reserves increased to 768.26 billion francs in July from the revised 758.85 billion francs previously, according to data from the Swiss National Bank (SNBN.SW).Over to corporates, Novartis (NOVN.SW) secured approval from the UK's Medicines and Healthcare products Regulatory Agency for its Rhapsido drug to treat eligible adults with chronic spontaneous urticaria whose symptoms are not sufficiently controlled by using H1 antihistamines alone. The Swiss pharmaceutical major's stock was up 0.64% at closing.Amrize (AMRZ.SW) reported a year-over-year increase in first-half revenue to $5.68 billion from $5.31 billion, while net income jumped to $369 million from $322 million. For full-year 2026, the building materials company updated its revenue guidance to between $12.5 billion and $12.7 billion amid increased demand and oil price-driven cost inflation."Amrize is making good progress with its ASPIRE program and expects to achieve $80 million of savings in 2026. Across both businesses, additional price increases are expected to be realized in the second half of the year. The timing difference between price realization and oil price driven cost inflation is expected to affect Full Year company earnings," the company said in its earnings release. Amrize's shares concluded the trading session 8.78% in the red.
