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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.

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Research

AlphaValue/Baader Europe Upgrades Logitech to Reduce, Lifts PT

AlphaValue/Baader Europe on Monday raised Logitech International (LOGN.SW) to reduce from sell and increased its price target to 86.10 francs from 85.70 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)

$LOGN.SW
Research

AlphaValue/Baader Europe Downgrades Logitech to Sell, Lifts PT

AlphaValue/Baader Europe on Monday downgraded Swiss computer peripherals and software company Logitech International (LOGN.SW) to sell from reduce and increased its price target to 80.60 francs from 78.30 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)

$LOGN.SW
Research

Baptista Research Downgrades Logitech International to Hold

Baptista Research on May 23 lowered Swiss computer peripherals company Logitech International (LOGN.SW) to hold from buy.(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)

$LOGN.SW
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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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."

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