SMI Down 0.13 Percent at 14,783.88 Points Around Midday
Published on 11/03/2026 at 13:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSMI Holds Near Flat at Midday
- The SMI stood at 14,783.88 points at 12:32:47 Berlin time on November 3, down 0.13 percent from the previous close.
- Novartis, Roche, Nestle and insurers supported the index, while technology and selected industrial stocks weighed on sentiment.
- Investors were also monitoring higher oil prices, US midterm elections, economic data and ongoing earnings reports.
The Swiss Market Index (SMI) was trading slightly lower around midday on Tuesday, November 3, 2026. At 12:32:47 Berlin time, the index stood at 14,783.88 points, down 18.64 points or 0.13 percent from the previous close. The reading was reported by finanzen.ch using SIX market data.
Defensive Stocks Cushion the Index
The market's performance remained mixed beneath the headline index level. An AWP report carried by cash.ch said defensive heavyweights were supporting the SMI. Novartis was up 1.2 percent, while Roche gained 0.3 percent and Nestle added 0.1 percent in the report's late-morning snapshot. Swiss Re, Zurich Insurance and Swiss Life also traded higher.
That support offset weakness in more cyclical and technology-related names. Geberit fell 3.3 percent after quarterly figures, with analysts described as viewing the results as solid but investors taking profits after the stock's recent advance. Sika was down 1.7 percent, while Galderma was pressured by the previously announced departure of its chief financial officer. The technology-linked VAT and AMS Osram shares also weakened.
Oil and US Events in Focus
Market sentiment was being shaped by several international factors. The cash.ch report said Brent crude had risen about 1.5 percent from the previous day to 106.50 US dollars per barrel, adding pressure to equities. It also highlighted continued weakness in technology shares after losses in US technology stocks and in Asian markets. Apple's cautious margin outlook added to the sector's concerns.
Investors were also watching the US midterm elections and upcoming US labour-market data, while the earnings calendar included Pfizer and AMD. In Switzerland, company-specific moves remained important: Burckhardt Compression jumped 11.8 percent after reporting stronger-than-expected orders for the first half of fiscal 2026/27 and confirming its full-year targets, although it is not an SMI constituent.
Index Context for Investors
SIX describes the SMI as Switzerland's leading blue-chip index, comprising the 20 largest and most liquid equities from the SPI and covering approximately 75 percent of Swiss equity-market capitalization, according to its SMI overview. The midday decline was modest, so the immediate signal was one of consolidation rather than a decisive change in trend. The balance between defensive support and pressure on technology and industrial shares remained the key market variable for the rest of the session.
Further SMI reports are available in the SMI topic overview.
