The Swiss market experienced a weak close on Monday, constrained by a narrow trading range throughout the session. This subdued performance was influenced by weak global markets and concerns over escalating geopolitical tensions, which contributed to the bearish sentiment.
Investors were awaiting key inflation data from both Switzerland and the Eurozone.
The SMI, the benchmark Swiss Market Index, fluctuated within a narrow 55-point range and ultimately closed at its session low, down 65.18 points or 0.53%, settling at 12,168.87.
Among individual stocks, Adecco saw a decline of nearly 2%, while Geberit shed approximately 1.7%. Other notable decliners included Julius Baer and Schindler Ps, which lost 1.47% and 1.35%, respectively.
Several major companies also posted losses: SGS, Lindt & Spruengli, Novartis, ABB, Swiss Life Holding, Holcim, UBS Group, Lonza Group, Swiss Re, Richemont, and Zurich Insurance Group all fell by 0.5% to 1%.
Conversely, SIG Group advanced nearly 2%, and Givaudan, Logitech International, and Swatch Group gained between 0.6% and 0.7%. Sonova ended the session with a modest gain.
In economic news, the KOF Swiss Economic Institute reported that a key indicator forecasting future turning points in the Swiss economy strengthened in September, reflecting an ongoing recovery trend. The economic barometer rose to 101.5 in September from an upwardly revised 105.0 in August, surpassing economists' expectations of 101.0.
The improvement in September was predominantly driven by positive indicators from the manufacturing sector, with additional support from the financial and insurance services, construction industry, and other service sectors, the KOF revealed.