SMI closes 0.6 percent lower as Holcim surges
Published on 10/23/2026 at 18:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSOil And Earnings Shape Swiss Stocks
- SMI closed at 14,462 points on October 23, down 86 points or 0.6 percent.
- Oil rose 3.5 percent to USD 117.2 as AI investment concerns hit risk appetite.
- Holcim was the top gainer, up 5.0 percent, while Richemont fell 6.4 percent.
- Germany's Ifo business climate index is due October 26 at 10:00 a.m. CET.
The SMI closed at 14,462 points on October 23, losing 86 points or 0.6 percent. Rising oil prices and renewed concern about heavy artificial-intelligence spending pressured European equities, MarketScreener reported.
Holcim led the index after strong third-quarter results and higher full-year ambitions. Richemont fell after rival Kering released results, while the SMI finished the week up 0.5 percent, MarketScreener said.
Why did SMI fall on Friday?
Oil reached USD 117.2, up 3.5 percent, as concern about artificial-intelligence investment weighed on risk appetite. The SMI opened at 14,573 points after closing at 14,548 points on October 22, then traded below its previous close for most of the session, finanzen.ch reported.
The defensive structure of the Swiss market limited the decline. The closing account also cited geopolitical uncertainty and doubts about the technology sector as reasons for cautious trading.
Winners and losers in the SMI
Winners and losers at the Swiss close according to MarketScreener:
- Holcim up 5.0 percent: third-quarter results and higher full-year ambitions supported the shares.
- Galderma up 2.3 percent.
- Richemont down 6.4 percent: Kering's results hurt the luxury-goods group.
- Sika down 2.3 percent: the company released nine-month results despite renewed growth.
The broader market remained defensive, with healthcare and consumer names providing support while cyclical and luxury shares weakened.
SMI price data for October 23, 2026
The SMI closed at 14,462 points on October 23, down 86 points or 0.6 percent from the previous close of 14,548 points, MarketScreener reported. The index opened at 14,573 points, according to finanzen.ch.
SMI by the numbers on October 23, 2026
- Index: SMI
- Home exchange: SIX Swiss Exchange, Switzerland
- Close on October 23, 2026: 14,462 points
- Change versus previous close of October 22, 2026: down 86 points (down 0.6 percent)
- Previous close: 14,548 points
- Open: 14,573 points
- Top gainer: Holcim up 5.0 percent
- Top loser: Richemont down 6.4 percent
- Next scheduled event: October 26, 2026, 10:00 a.m. CET: Germany's Ifo business climate index
What comes next for SMI
- October 26, 2026, 10:00 a.m. CET: Germany's Ifo business climate index, MarketScreener lists.
- October 26, 2026, 1:30 p.m. CET: Chicago Fed National Activity Index for September, Deutsche Boerse says.
- October 27, 2026, 7:00 a.m. CET: Novartis publishes third-quarter results before the Swiss market opens, n-tv reports.
