SMI closes 1.21 percent higher at 14,756.86 after record high
Published on 10/29/2026 at 22:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSMI closes higher after record high
- The SMI settled at 14,756.86 points on October 29, 2026, up 175.76 points or 1.21 percent.
- Defensive heavyweight stocks, positive European market signals and earnings optimism supported the advance.
- Amrize lagged after disappointing quarterly results and a lower full-year forecast.
The Swiss Market Index (SMI) finished Thursday's session at 14,756.86 points, gaining 175.76 points, or 1.21 percent. The index traded between 14,656.57 and 14,861.53 points during the session. According to RTTNews, the market remained firm amid optimism about corporate earnings and positive signals from other European markets.
Defensive shares support the index
Healthcare and consumer-staples heavyweights provided important support. Swissinfo, citing Keystone-SDA, reported that Novartis was up 2 percent at around 9:50 a.m. local time, while Nestle gained 1 percent and Roche rose 0.5 percent. The report described the SMI as reaching a new all-time high during the session.
The composition of the advance also reflects a broader shift in investor positioning. Swissinfo reported that investors had been moving money away from technology stocks and toward companies viewed as more resilient during economic downturns. Roche, Novartis and Nestle have recently been key contributors to the benchmark, whose large defensive constituents give the index a different sector balance from technology-heavy equity markets.
Amrize remains a notable drag
Not every large-cap stock participated in the rally. Amrize fell by more than 5 percent in morning trading after disappointing quarterly figures and a downward revision to its full-year forecast, according to Swissinfo. RTTNews later reported gains of 3.2 percent for Amrize, 4.4 percent for Sandoz Group and nearly 3 percent for UBS Group by the close, indicating a strong recovery in several shares despite the earlier pressure on the building-materials group.
Investor view
The session shows how the SMI's defensive concentration can support the benchmark when investors favor earnings visibility and companies less sensitive to economic weakness. At the same time, the contrasting performance of Amrize highlights the continued importance of company-specific earnings and guidance. The advance alone does not establish that every constituent or the broader Swiss economy is strengthening at the same pace.
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