Business · Markets · 9 hrs ago
Swiss stocks slip after election-driven gains
Switzerland’s main stock index, the SMI, fell 0.4% to 14,967 points on Thursday after reaching a record 15,092 earlier in the day.
The market had risen amid optimism after the US election, but investors grew more cautious as the session went on.
They worried that possible tighter US rules could affect data-centre construction, alongside risks in the Middle East and concerns about inflation and interest rates.
Swiss stocks held up better than many international markets, helped by defensive companies whose businesses are seen as steadier.
ABB had the biggest loss after Chinese authorities blocked its planned sale of its robotics unit to SoftBank, putting the deal at risk.
Attention now turns to the US jobs report due at the end of the week.
Swiss stocks closed lower on Thursday after election-related gains gave way to investor concerns.
The Swiss Market Index fell 0.4% to 14,967 points.
It had reached a record high of 15,092 points in the morning.
Concerns included possible US regulatory changes affecting data-centre construction, geopolitical risks in the Middle East, and inflation and interest rates.
Defensive shares, including Nestlé and Swisscom, rose while several technology stocks fell.
- Who
- Swiss stock market investors and companies listed on the Swiss Market Index.
- What
- The SMI fell 0.4% to 14,967 points after reaching a record high earlier in the day.
- When
- Thursday, November 5, 2026.
- Where
- Switzerland.
- Why
- Investors weighed possible US regulatory changes affecting data-centre construction, Middle East geopolitical risks, and inflation and interest-rate concerns.
This story does not have two clearly opposing sides.
The SMI reached a record high of 15,092 points.
The SMI fell 0.4% to 14,967 points.
- SMI close
- 14,967 points, down 0.4%
- Intraday record
- 15,092 points
- Biggest decliner
- ABB, down 4.2%
- Swisscom
- Up 3.3% after results; reached a high of 734.50 francs
- Swiss Re
- Up 2.0% after better-than-expected earnings figures
What people are saying
Election euphoria is followed by disillusionment