SMI slips 0.33% to 14,761.54 points at midday
Published on 11/02/2026 at 13:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSMI Under Midday Pressure
- The SMI stood at 14,761.54 points at 12:49:11 local time on November 2, down 0.33 percent from Friday's close.
- Roche and Novartis were among the weakest major constituents, while Holcim, Logitech and Amrize led the gainers.
- Investors were weighing fragile sentiment after Friday's technology selloff, US election uncertainty and falling oil prices linked to diplomacy hopes.
- US manufacturing data and Apple earnings were among the next catalysts identified for the trading day.
The SMI traded lower on Monday, November 2, as investors assessed a cautious European session following Friday's technology-led selloff. At 12:49:11 local time, the Swiss blue-chip index stood at 14,761.54 points, down 49.12 points or 0.33 percent from Friday's close at 14,810.66 points. The figure was reported by finanzen.ch.
Defensive Leaders Lose Momentum
The index opened 0.621 percent lower at 14,718.69 points before recovering part of the initial decline. Its intraday range extended from 14,703.70 to 14,793.67 points by the time of the report. The market remained in continuous SIX trading, rather than a lunch break, with the SMI calculated in real time from its constituent transactions, according to SIX.
Performance within the index was mixed. Holcim gained 2.09 percent, Logitech rose 1.89 percent and Amrize added 1.57 percent. Geberit and Sika also advanced. On the losing side, Roche fell 1.36 percent and Novartis declined 1.24 percent. Zurich Insurance, Swiss Re and Galderma were also lower. The divergence left the SMI under pressure despite strength in several cyclical and industrial names.
Global Risk Signals Remain Important
Broader market sentiment was shaped by the aftermath of Friday's US technology selloff and caution before Tuesday's US midterm elections. A Reuters market report published by Fidelity said European stocks were struggling for direction as investors considered Apple earnings and a sharp fall in oil prices tied to hopes for a diplomatic solution to the Iran war. Falling energy prices can ease inflation concerns, but the accompanying geopolitical uncertainty continued to limit conviction in equities.
For the rest of the session, attention was due to turn to the US ISM manufacturing survey and corporate earnings after the US close, including Apple. The SMI's midday move therefore reflected both company-specific weakness in heavyweight healthcare shares and a wider wait-and-see stance ahead of political, economic and earnings events.
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