The Swiss market, despite spending a significant portion of Tuesday's trading session in the red, closed moderately higher, buoyed by a late surge of interest in select stocks.
The Swiss Market Index (SMI) rose by 39.01 points, or 0.33%, to finish at 11,740.52. During the day, it reached a low of 11,622.55 and a high of 11,744.28.
Notable gainers included VAT Group, which increased by 2.21%, and Richemont, which climbed 1.4%. Sonova and Logitech advanced by 1.29% and 1.22%, respectively, while Nestlé rose by 1.02%. Alcon, Novartis, Givaudan, Stramann Holding, and Roche Holding saw gains ranging from 0.5% to 0.9%. Meanwhile, Lindt & Sprüngli, Swatch Group, Swiss Life Holding, and Swisscom recorded modest gains.
On the downside, Kuehne + Nagel slipped by 1.65%. Julius Baer, Lonza Group, Adecco, Geberit, Swiss Re, UBS Group, Sandoz Group, Holcim, and Partners Group ended the session with losses ranging from 0.6% to 0.9%.
According to the State Secretariat for Economic Affairs (SECO), Switzerland's economic growth is anticipated to be slightly less robust than previously projected due to significant uncertainties in the global economic and trade policy environment.
The federal government's expert panel revised the forecast for Switzerland's gross domestic product growth in 2025 to 1.5%, down from the 1.6% forecasted in September. The primary driver of growth is expected to be domestic demand.
For the current year, the Swiss economy is projected to grow by 0.9%, a decline from the 1.2% growth forecasted in September.
Looking ahead to 2025, the Expert Group on Business Cycles predicts a more subdued performance from the German and broader European economies than previously anticipated.
By 2026, it is expected that the rest of Europe will begin to emerge from the current economic downturn, which should, in turn, support Swiss exports and investments. The expert group forecasts a 1.7% economic expansion with an average inflation rate of 0.7%.
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