The Swiss Market Index (SMI) traded slightly lower in lacklustre conditions, lacking strong directional impulses from broader European markets. Losses were concentrated primarily in the technology sector, which came under sustained selling pressure.
Despite the downward drag from technology issues, the benchmark index found a floor thanks to gains in heavyweight pharmaceutical shares. Roche and Novartis both attracted buying interest, acting as a buffer for the broader market and preventing steeper losses for the SMI.
Meanwhile, individual equities saw divergent moves following corporate updates and earnings reports. Shares of Huber+Suhner suffered sharp losses during the session. Conversely, Skan, Basilea, and Medartis drew strong demand from investors following the release of their respective financial figures.
