FX.co ★ Swiss Market Ends Modestly Lower

The Swiss stock market concluded Monday's session on a subdued note, though the decline was less severe compared to the significant downturns experienced by other major European markets.

The market's weakness can be attributed to escalating concerns over a potential global trade war. This apprehension followed the imposition of tariffs by U.S. President Donald Trump on Canada, Mexico, and China, along with warnings that the European Union and the United Kingdom might be next to face similar levies.

Several major regional markets managed to slightly alleviate their losses when President Trump decided to delay the implementation of tariffs on Mexico by one month after discussions with the Mexican President.

The Swiss Market Index (SMI) finished 50.32 points down, marking a 0.4% decrease and closing at 12,546.77—above the day's low of 12,409.82.

Julius Baer experienced a significant drop of 12.7% following the bank's announcement of a workforce reduction by approximately 5%, as part of cost-saving strategies initiated by newly appointed CEO Stefan Bollinger.

Sandoz saw a decline of 2.8% after announcing Peter Stenico's appointment as the new President of Region International and a member of the Sandoz Executive Committee.

Logitech International closed down 3.1%, while Sika, Straumann Holding, and Kuehne + Nagel lost between 2.1% and 2.5%. ABB, VAT Group, UBS Group, Schindler, and Givaudan experienced declines ranging from 1.5% to 1.8%.

Other companies, including Geberit, Holcim, SGS, Partners Group, Sonova, Alcon, SIG Group, Richemont, and Swiss Life Holding, also saw notable declines.

On a more positive note, Lonza Group surged with gains of 2.7%, while Swatch Group appreciated slightly above 1%. Novartis and Nestle recorded modest gains.

From an economic perspective, the Swiss procure.ch PMI inched up to 47.5 in January 2025, rising from 47 in December, though it remained below the market's anticipated figure of 49.