SMI closes 1.90% higher at 15,022.85 after US midterm vote

Published on 11/04/2026 at 22:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The SMI closed 1.90% higher at 15,022.85 points on Wednesday, reaching a new intraday high of 15,044.44. Banks and selected growth stocks advanced as investors reassessed the policy implications of the US midterm election result.

SMI ends sharply higher

The SMI closed at 15,022.85 points on November 4, 2026, up 279.76 points or 1.90% from Tuesday's close.
The index reached an intraday record of 15,044.44 points as investors assessed the Democrats' takeover of both chambers of the US Congress.
Logitech, Alcon and UBS were among the strongest constituents in the reported market table, while ABB lagged.

SMI, CH0009980894, Illustration mit AI erstellt.

The Swiss Market Index (SMI) ended Wednesday's session at 15,022.85 points, up 279.76 points, or 1.90%, from Tuesday's close of 14,743.09. The closing level and previous close are reported by MarketWatch, which showed the index as closed at 5:31 p.m. CEST on November 4. The SMI is the blue-chip index for Switzerland and tracks 20 of the largest and most liquid equities, according to SIX.

New high after election repricing

The index climbed as investors assessed the Democrats' victory in both chambers of the US Congress. A market report from cash said the result reduced uncertainty about major legislative changes and allowed investors to refocus on corporate earnings and economic fundamentals. The same report said market participants viewed a Democratic-controlled Congress as potentially limiting expansive US fiscal policy, with implications for longer-term inflation and interest-rate risks.

The SMI reached 15,044.44 points during the session, according to a closing report by Finanzen.ch. That report described the session as upbeat and recorded the final level at 15,022.85 points.

Banks and selected stocks lead

The market data accompanying the closing coverage showed notable gains in Logitech, up 8.56%, Alcon, up 5.58%, UBS, up 4.51%, Partners Group, up 4.44%, and Richemont, up 4.43%. Swiss Re, Lonza and Roche also finished higher. ABB was listed down 2.26%, while Sandoz was unchanged. These constituent moves help explain the breadth of the advance, but the SMI's capitalization-weighted construction means individual contributions are not identical to the reported percentage changes.

Investor focus turns forward

For investors, Wednesday's move brought the SMI close to a fresh record closing level after the index had fallen 0.40% on Tuesday. The market's response reflects a reassessment of policy and interest-rate expectations rather than a change in the index methodology or composition. Further direction will depend on how investors interpret the election's economic consequences alongside company earnings and global market moves.

More coverage is available in the SMI topic overview.