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Asia Markets

Swiss Market Index Rises Amid New US-Iran Strikes; Switzerland Issues New Bond

Swiss shares gained on Wednesday as investors looked for signs of clarity in peace talks between the US and Iran following new reports of escalation in tensions.The Swiss Market Index closed 0.80% higher amid reports that the White House retaliated against Iran for shooting down a US military helicopter near the Strait of Hormuz, complicating ongoing talks between the two countries on an extended ceasefire.The exchange came just hours after US President Donald Trump touted progress in ceasefire negotiations. Taking to Truth Social, Trump said Tehran has "taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!"In corporate news back home, Logitech International (LOGN.SW) dropped 1.36% after it unveiled several new products, including an $80 portable foldable mouse called Mobi Fold.Holcim (HOLN.SW) launched the CaptureLab industrial-scale carbon capture test platform in France for technologies that can be used in cement manufacturing. The building materials company fell 0.39% at closing.Outside the blue-chip, Centiel (CNTL.SW) surged 33.33% after it secured a deal with Neo Critical Power to deploy its uninterruptible power supply technology in the US data center market. The UPS manufacturer anticipates an initial revenue in the low double-digit millions during its current financial year.Cybersecurity and digital identity company WISeKey International (WIHN.SW) announced a $3 million strategic investment in its Sealcoin subsidiary to boost the integration of the Sealcoin ecosystem into the space economy, including the commercialization of space infrastructure. The stock was down 2.91%.In other news, the Swiss government concluded the issuance of a 415.2 million-franc, 0.875% Confederation bond due June 24, 2041. Settlement is on June 24, 2026.

^SSMI$CNTL.SW$HOLN.SW$LOGN.SW$WIHN.SW
Research

AlphaValue/Baader Europe Downgrades Holcim to Add, Lowers PT

AlphaValue/Baader Europe on Monday downgraded building materials company Holcim (HOLN.SW) to add from buy and reduced its price target to 93.20 francs from 96.40 francs.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$HOLN.SW
Research

AlphaValue/Baader Europe Upgrades Holcim to Buy, Boosts PT

AlphaValue/Baader Europe on Tuesday upgraded building materials company Holcim (HOLN.SW) to buy from add and raised the price target to 94.80 francs from 82.70 francs.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$HOLN.SW
Research

AlphaValue/Baader Europe Upgrades Holcim to Add, Raises PT

AlphaValue/Baader Europe on Monday upgraded building materials company Holcim (HOLN.SW) to add from reduce and increased its price target to 82.70 francs from 77.00 francs.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$HOLN.SW
Asia Markets

Swiss Equities Close Week Downbeat; Novartis, Kuehne+Nagel in Red

Swiss equities slipped back into negative territory, with the Swiss Market Index down 0.59% on Friday's close, as investors digest a slew of corporate releases and trading updates.Buildings materials company Holcim (HOLN.SW), logistics group Kuehne+Nagel (KNIN.SW), instrumentation company Inficon (IFCN.SW), and contract development and manufacturing organization Siegfried Holding (SFZN.SW) were among Switzerland-listed companies that reported financial results.Kuehne+Nagel reported a year-over-year drop in first-quarter earnings to 248 million francs from 303 million francs, while net turnover fell to 5.60 billion francs from 6.33 billion francs. The results were impacted by cost-saving measures and sea logistics disruptions caused by the conflict in the Middle East. The stock was down 4.30% at the end of the trading day.Meanwhile, Novartis (NOVN.SW) secured a positive recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use for the approval of Itvisma for treating 5q spinal muscular atrophy in patients aged two and above.The Swiss drugmaker also withdrew its EMA type 2 variation application for Pluvicto to expand the indication to include treating adults with prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer in pre-chemotherapy following the committee's feedback. Novartis shares closed 4.30% lower.On the macroeconomic front, Swiss National Bank (SNBN.SW) Governing Board Chairman Martin Schlegel expects Swiss economic growth to be "rather subdued" in the short term before seeing an upturn over the medium term "to some extent" amid "significantly" increased uncertainty arising from the Middle East conflict. In terms of inflation, the SNB forecasts it will further increase in the coming quarters, mainly driven by higher energy prices.

^SSMI$HOLN.SW$IFCN.SW$KNIN.SW$NOVN.SW$SFZN.SW$SNBN.SW
Research

AlphaValue/Baader Europe Downgrades Holcim to Sell, Cuts PT

AlphaValue/Baader Europe on Tuesday downgraded cement manufacturer Holcim (HOLN.SW) to sell from reduce and lowered its price target to 59.90 francs from 68.20 francs.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$HOLN.SW
Asia Markets

Swiss Stocks in Red After US-Iran Peace Talks Collapse; Burkhalter Gains

The Swiss Market Index welcomed the new trading week on a bleak note, closing 0.28% in the red on Monday, as the US prepares for a naval blockade of ships passing through the Strait of Hormuz after peace talks between the US and Iran collapsed over the weekend."That US-Iran peace talks failed to deliver a sustainable ceasefire should perhaps not come as a surprise. And while a US naval blockade will push oil higher, that is a better outcome for the global economy than a renewed assault on energy infrastructure in the region," analysts at ING said.Switzerland's economic calendar was empty for the day, while the release of the country's producer and import prices is on the agenda this week. Market watchers are also awaiting the International Monetary Fund's latest World Economic Outlook report.On the corporate front, Burkhalter (BRKN.SW) gained 3.20% as it reported a year-over-year increase in 2025 group profit to 61.3 million francs from 57.2 million francs, while EPS jumped 7.2% to 5.78 francs and sales up 1.8% to 1.21 billion francs. Looking forward, the Swiss building technology services provider expects EPS to "moderately" rise in 2026 compared with the previous year.Meanwhile, Deutsche Bank Research resumed its coverage of Holcim (HOLN.SW) with a buy rating and a price target of 85 francs, after a period of restriction as a result of the Swiss building materials company's purchase of a majority stake in Peruvian peer Cementos Pacasmayo. Holcim's stock was down 0.66% at closing."Holcim provides exposure to Europe (notably France and the UK), Latam (Mexico, Colombia, Peru) and AMEA (including Australia). CEO Miljan Gutovic has steered the group through an intense period of portfolio rotation: the spin-off of North American assets (Amrize), significant M&A (Xella and Cementos Pacasmayo in; Nigeria out) and ongoing geopolitical events," the research firm said in a note.

^SSMI$BRKN.SW$HOLN.SW