Swiss stocks closed on a weak note on Monday, in line with most of the markets across Europe, amid falling appetite for riskier assets due to rising tensions in the Middle East.
Tensions run high in Middle East following the U.S. and Israel’s coordinated strikes on Iran and the retaliatory strikes by Teheran on U.S. bases across the region.
Today Israel launched airstrikes on Hezbollah targets in Beirut and other parts of Lebanon following projectile fire from Lebanese territory into northern Israel.
U.S. President Donald Trump suggested the conflict with Iran could go on for the next four weeks, raising concerns about a significant widening of hostilities in the region that could severely disrupt the global supply of crude oil and send prices soaring to levels not seen in years.
The Switzerland market’s benchmark index SMI tumbled to a low of 13,700.13, way down from its previous close of 14,014.30, and despite recovering some ground, ended the day’s session with a sharp loss of 180.20 points or 1.29% at 13,834.10.
Richemont ended down by 5.72%. Straumann Holding closed 3.15% down, while Holcim, Geberit and Alcon ended down by 2.6%, 2.35% and 2.27%, respectively.
Partners Group, Julius Baer, ABB, Swiss Life Holding, Swiss Re, Sika, VAT Group, Helvetia Baloise Holding, Roche Holding and Lonza Group lost 1%-2%.
Kuehne + Nagel climbed about 1.5%. Galderma Group gained 1.2% and Schindler Ps ended 0.5% up.
In economic news, Swiss retail sales increased at the fastest pace in six months in January after a revised slight decline in December, data from the Federal Statistical Office revealed.
In real terms, retail sales climbed 1.1% on a monthly basis, reversing a 0.2% fall in December, revised from a 1% growth. Excluding service stations, total retail sales were 1.3% higher.
On a yearly basis, retail sales logged a renewed fall of 1.1% versus a 2.8% rise in December. Meanwhile, sales were expected to climb by 2.7%. Online sales were 15.3% lower, reversing a 2.4% increase a month ago.
Market Analysis
Swiss Market Ends Notably Lower On Rising Tensions In Middle East
2026-03-02 18:39:35
