Galderma's addition to the Swiss Market Index on Friday has coincided with a rally of more than 4%, though a portion of the gain appears driven by CEO Flemming Ørnskov's comments to Financial & Business rather than purely by passive index-fund buying. The statements have been read by some market participants as hinting at a possible second consecutive upward revision of this year's growth targets, buoyed by strong sales of the dermatology product Nemluvio.
Mensur Pocinci, head of technical analysis at Julius Bär, has drawn attention for a particularly active trading record on the stock. In July he removed Galderma from his model portfolio, only to buy it back two weeks later. Days before the SMI inclusion, he was reportedly stopped out at roughly the same price level, realizing a paper loss of just over 14%. He has now reinstated the shares in the bank's Swiss Equities Portfolio, prompting further commentary on the反复 nature of his positioning.
In other insider activity, Swiss Life (SUN) shares fell on Tuesday among the SMI's daily losers, weighed down by the announcement that an unnamed member of its supervisory board sold stakes valued at approximately 4.7 million CHF, according to a filing with the SIX Swiss Exchange. That represents the largest transaction of its kind in recent company history; the prior million-plus sale dates to spring 2024, when roughly 1.3 million CHF in shares were offloaded. Given Swiss Life's stock has enjoyed a notable run over the past few years, fueled in part by a friendly domestic real-estate market, the size and timing of the latest sale carries some signal weight, according to market observers.
Swiss Life will publish its interim report for the third quarter on 11 November. CEO Alberto Quadrio曲atli is scheduled to appear at investor conferences in Munich and London on Wednesday, offering early clues ahead of the release.
