DOW JONES–The Swiss stock market followed its European counterparts lower on Monday. At the start of trading, an oil price shock triggered heavy losses, which then reduced again as oil prices came back somewhat. The rise in oil prices as a result of the Iran war acted as a pacesetter for the stock market, it was said in the trade. This fueled fears of stagflation. According to media reports, the finance ministers of the G7 countries want to consider releasing strategic oil reserves. As long as the Strait of Hormuz is “tight”, there is virtually no hope of a fall in oil prices, according to asset manager QC Partners. Many Gulf states have reduced their production volumes because the oil they produce cannot be transported away.
The SMI lost 0.7 percent to 13,000 points. Among the 20 SMI stocks, there were 15 price losers and five winners. 32.1 (previously: 26.93) million shares were sold. Aviation-related stocks came under pressure across Europe – weighed down by significant restrictions on air traffic and rapidly rising kerosene prices. In Switzerland, Zurich Airport fell by 2 percent, and the shares of airport retailer Avolta fell by 3.1 percent. Roche suffered a setback in a study of an experimental breast cancer treatment. The news that the breast cancer drug Giredestrant did not meet the primary goal of a late-stage study came as a surprise after two previous studies for the same drug showed positive results, said Vontobel analyst Stefan Schneider. The price fell by 2.6 percent. Competitor title Novartis, on the other hand, climbed by 1.7 percent.
Zurich Insurance (-0.04%) is taking over Generali’s Irish property and casualty business for around 337 million euros. Meanwhile, Lonza (-1.1%) and Genetix extended the long-term production agreement for Zynteglo. Among the small caps, Temenos rose by 3.1 percent. Bank of America had positive comments on the stock and upgraded it to “buy”.
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(END) Dow Jones Newswires
March 09, 2026 1:02 p.m. ET (5:02 p.m. GMT)
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