Swiss 20 Ends Flat at 13,305.72 as Referendum Fears Linger

The Swiss 20 closed virtually unchanged at 13,305.72 on June 2 after intraday gains evaporated amid ongoing uncertainty over the upcoming population-cap referendum. The index had plunged 1.57% to 12,597.35 on June 1 following warnings that the 10-million cap would threaten EU trade access and skilled-labor inflows for tech and pharma firms. Earlier in the period the benchmark surged to a record 13,627.41 on May 27 before reversing sharply, while the KOF Barometer edged up only marginally to 98.0, signaling subdued growth. Volatility has intensified as political uncertainty compounds softer economic indicators.