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.