At Tuesday’s opening, the SIX Swiss Exchange moved without a clear direction, with investors remaining cautious amid new geopolitical tensions. Donald Trump’s statements against Iran have reignited concerns around the Strait of Hormuz, immediately weighing on market sentiment.
The SMI index remained close to balance in a nervous climate
Shortly after the opening, the flagship SMI index slightly declined by 0.09% to 12,970.20 points. This cautious opening comes in a shortened trading week due to Easter Monday. Investors are torn between signals of relaxation in certain oil flows and the resurgence of geopolitical risk triggered by the new American statements. The Swiss secondary indices were also in the red: the SLI lost 0.12%, while the SPI dropped 0.15%.
American threats revive market tensions
Donald Trump has once again increased diplomatic pressure by explicitly threatening strategic Iranian infrastructures. The American president declared that massive strikes could target energy facilities and bridges if Tehran did not lift the blockades around the Strait of Hormuz. For the markets, this statement immediately rekindles the scenario of a major disruption in global energy supply.
Investors torn between caution and volatility
According to several Swiss financial analysts, the market remains in a period of high uncertainty. The partial resumption of maritime traffic in the Strait of Hormuz had momentarily reassured investors, but the tone of the American discourse quickly reversed this relaxation. Operators now consider that a wide range of scenarios remains open, from a rapid de-escalation of diplomacy to a sudden worsening of the regional situation.
Defensive stocks show better resistance
Among large capitalizations, several stocks displayed better resistance. Lindt & Sprüngli rose by 1.1%, while Logitech and Schindler both gained 0.9%. Conversely, SGS fell by 1.4%, penalized by a target price adjustment by Goldman Sachs.
Implenia and PSP Swiss Property monitored in the broader market
In the broader market segment, Implenia announced a contract worth over 200 million euros in Germany, without causing a significant reaction in the stock. PSP Swiss Property declined despite Berenberg raising its target price.
Ems-Chemie penalized by its quarterly sales
Ems-Chemie experienced one of the most significant declines. The group reported a quarterly revenue of 487 million Swiss francs, down 6.6% year-on-year, immediately affecting the stock.
