Business · Markets · 9 hrs ago
Swiss stocks rise for fourth day as defensive shares offset tech losses
The Swiss Market Index rose for a fourth day this week, closing Friday up 0.36% at 14,810.66 points.
The gains came mainly from defensive heavyweights such as Nestlé and Novartis, whose shares rose 2.3% and 1.1%.
By contrast, weak results from major US technology companies weighed on tech shares, with Logitech falling 4.2% and several Swiss technology firms also dropping.
The SMI finished near its record high of 14,861 points, reached the previous day, and rose 2.4% over the week.
For October, the index gained more than 7%, while the broader Swiss market indexes also ended Friday higher.
Investors were also watching US midterm elections due the following Tuesday, with traders expecting possibly higher market volatility in the coming days.
Oil prices remained a focus, with Brent trading above $117 a barrel after briefly nearing $118 amid speculation about possible US military action in the Middle East.
Swiss stocks rose for a fourth consecutive trading day on Friday, with defensive heavyweight shares offsetting losses in technology stocks.
The SMI gained 0.36% to close at 14,810.66 points, near its record high from the previous day.
Nestlé rose 2.3% and Novartis gained 1.1%, while Logitech fell 4.2%.
Weak results from major US technology companies, including Intel and Amazon, weighed on technology-linked Swiss shares.
The SMI gained 2.4% over the week and more than 7% in October.
- Who
- Swiss stocks and investors.
- What
- The SMI rose for a fourth consecutive trading day as defensive shares offset technology losses.
- When
- Friday, 30 October 2026.
- Where
- Switzerland.
- Why
- Defensive heavyweight shares gained, while disappointing results from major US technology companies weighed on tech-linked stocks.
This story does not have two clearly opposing sides.
Results from major US technology companies, including Intel and Amazon, disappointed investors.
The SMI gained 0.36% to close at 14,810.66 points, with defensive shares contributing to the rise.
Investors were watching for the US midterm elections, which traders expected could bring higher-than-usual market volatility.
- SMI close
- 14,810.66 points
- SMI daily gain
- 0.36%
- SMI weekly gain
- 2.4%
- Nestlé
- +2.3%
- Logitech
- -4.2%
- October SMI performance
- More than +7%
What people are saying
Investors are increasingly withdrawing from semiconductor and AI stocks on international equity markets.