SMI ends 1.2 percent lower as oil and yields hit Swiss stocks
Published on 10/08/2026 at 21:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- SMI closed on October 8, 2026 at 13,637 points, down 1.2 percent.
- Higher oil prices, rising bond yields and hawkish Fed minutes pressured Swiss equities.
- Swiss consumer confidence data is scheduled for 9:00 a.m. CEST on October 9, 2026.
SMI ended the October 8, 2026 session at 13,637 points, down 1.2 percent, as higher oil prices and bond yields weighed on Swiss equities. The index traded between 13,618 and 13,746 points, according to finanzen.ch.
Roche fell 2.0 percent and Novartis lost 1.9 percent, making the two pharmaceutical heavyweights major contributors to the decline, while finanzen.ch reported that Nestle gained 0.6 percent.
Oil and yields pressure the index
Oil prices rose after reports that the White House had asked the Pentagon to prepare strike options involving Iran. Brent crude moved above USD 105 during the session, according to finanzen.ch. Higher energy costs revived inflation concerns and pushed bond yields higher.
The previous evening's Federal Reserve minutes also indicated that most officials considered another rate increase before year-end appropriate. Saxo Bank said the minutes reinforced a hawkish stance while showing limited urgency for an October move.
Market breadth
Eighteen of the 20 SMI constituents closed lower and two gained. Trading volume reached 23.25 million shares, compared with 22.03 million in the previous session, finanzen.ch reported.
What comes next
Swiss consumer confidence for September is scheduled for 9:00 a.m. CEST on October 9, 2026, according to Admiral Markets. A preliminary University of Michigan consumer sentiment reading is also due at 4:00 p.m. CEST, while ECB Executive Board member Isabel Schnabel is scheduled to speak at 3:35 p.m. CEST, finanzen.ch reported.
