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AlphaValue/Baader Europe on Monday downgraded specialty chemicals company Sika (SIKA.SW) to add from buy, while maintaining its price target at 195 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)
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.
The blue-chip Swiss Market Index bounced back on Tuesday, closing 0.94% higher, as investors digest the latest economy-related and corporate releases while keeping an eye on geopolitical developments.On the macroeconomic front, the International Monetary Fund lowered its 2026 global growth forecast to 3.1% in its April World Economic Outlook report, down by 0.2 percentage point from its previous estimate, under the assumption that the ongoing conflict in the Middle East remains limited in duration and scope. For 2027, the global growth is still expected to stand at 3.2%.For the euro area, the economic growth projections for 2026 and 2027 were both trimmed by 0.2 pp to 1.1% and 1.2%, respectively, while the estimates for the UK were cut by 0.5 pp and 0.2 pp to 0.8% and 1.3%.Back home, Swiss President Guy Parmelin and Federal Councilor Karin Keller-Sutter are set to attend the 2026 IMF and World Bank Spring Meetings and G20 finance ministers meeting in the US this week, according to Switzerland's Federal Council. Swiss National Bank (SNBN.SW) Governing Board Chairman Martin Schlegel will also be part of the delegation."The Spring Meetings will focus on global economic and development policy challenges. In the current environment of geopolitical conflicts and trade tensions, it is particularly important for Switzerland to advocate reliable economic relations and open markets in multilateral bodies and bilateral contacts. Healthy public finances, price stability and a robust global monetary and financial system are also crucial for a resilient economy and lasting prosperity," the government said.Over to corporates, Sika (SIKA.SW) reported a 7% year-over-year drop in first-quarter net sales to 2.49 billion francs. The result was dented by a foreign currency impact of 213 million francs, which the Swiss specialty chemicals group mainly attributed to the franc's strength against Asian currencies and the US dollar. For full-year 2026, the company reaffirmed its sales growth guidance of between 1% and 4% in local currencies. The stock gained 7.94% at closing.PolyPeptide Group (PPGN.SW) also saw its shares rise 4.46% after disclosing that it is at an early stage of reviewing potential strategic options to further improve its long-term value for shareholders. Amid market chatter that it drew takeover interest from certain investors, the Swiss contract development and manufacturing organization noted that it has yet to decide on the review.
Sika (SIKA.SW) on Tuesday upheld its 2026 guidance even as first-quarter sales in Swiss francs declined 7% year over year due to foreign-currency impacts in a subdued global construction market.Net sales of the Swiss specialty chemicals group reached 2.49 billion francs in the three months ended March 31, down from 2.68 billion francs a year ago. Sales beat the FactSet-compiled consensus estimate of 2.45 billion francs.In local currencies, sales edged up 0.9% thanks to market share gains across all regions. Sales growth in Europe, the Middle East, and Africa accelerated to 3.6% from 0.7% as construction activity gained pace after the winter months. However, sales in the Americas fell 0.8% after a 4.9% rise in the 2025 first quarter, owing to winter storms and economic uncertainty. Asia-Pacific also declined 2.2% due to a double-digit drop in the Chinese construction business.While Sika flagged muted global market conditions in 2026, including a low single-digit percentage decline, it expects a gradual improvement in momentum for the construction industry after a softer first half. As such, the company maintained its expectations for sales to increase between 1% and 4% in local currencies in 2026, in line with its target of outperforming the market by 3% to 6%. Sika also confirmed its medium-term strategic targets for "sustainable, profitable" growth under the Strategy 2028.Additionally, Sika made targeted structural adjustments in China and implemented operational improvements in other markets as part of its Fast Forward program, through which it is on course to deliver 80 million francs of savings in 2026 and 150 million francs to 200 million francs annually at full run rate by 2028."We are accelerating our investment in product innovation and improving our customer value proposition," Chief Executive Officer Thomas Hasler said. "We are watchful on the impact of events in the Middle East. We expect global market conditions to remain muted in 2026 and we are acting preemptively."