Swiss Market Closes Higher Boosted By Novartis MS Drug Results

The Swiss stock market finished Tuesday's trading session on a positive note, overcoming intraday volatility driven by persistent geopolitical tensions, elevated crude oil prices, and monetary policy uncertainties. The benchmark Swiss Market Index (SMI) initially slipped into negative territory during mid-morning trade before rebounding in the afternoon to settle at 14,334.79, marking a gain of 48.36 points or 0.34%. Market gains were primarily led by pharmaceutical heavyweight Novartis, which rallied 6.25% following encouraging clinical trial data for its multiple sclerosis candidate remibrutinib, showing significant reductions in relapse rates. Additional support came from Straumann Holding, Sandoz Group, and Holcim. Conversely, downward pressure came from Partners Group, which plunged 7.3% following a year-over-year contraction in first-half operating and net profits. Sentiment was further bolstered by stronger-than-expected domestic economic data from the Swiss Federal Statistical Office. Real retail sales advanced 2.3% year-over-year in July, easily surpassing consensus estimates of 1.3% growth and offering positive indications for underlying Swiss consumer health despite global macroeconomic headwinds.