On Tuesday, the Swiss market largely remained in the red, aside from a brief uptick at the beginning, as investors exercised caution and made selective stock moves. The initial alleviation of tariff concerns—following U.S. President Donald Trump's decision to delay tariffs on Canada and Mexico for 30 days—was overshadowed by ongoing trade war anxieties stemming from the reciprocal imposition of duties between the U.S. and China.
The Swiss Market Index (SMI) briefly reached 12,557.62 at the opening, ultimately closing with a decline of 71.28 points, or 0.57%, at 12,475.49.
UBS Group saw a significant drop of 7.05%, despite exceeding expectations with its fourth-quarter results for 2024. The bank returned to profitability this quarter compared to a previous year's loss, increased its dividend, and announced a share buyback program of up to $3 billion.
Sonova and Swatch Group fell by 3.42% and 3.24%, respectively, while VAT Group decreased by 1.56%. Julius Baer, Lindt & Sprüngli, Kuehne + Nagel, and Swisscom experienced losses ranging from 0.7% to 0.9%. Novartis and Nestlé each declined by just over 0.5%.
Conversely, Lonza Group advanced nearly 1.5%, with Logitech International gaining 0.9%. Zurich Insurance Group and ABB closed up by approximately 0.7% and 0.65%, respectively.
