The Swiss Market Index fell 1.60% on Tuesday, aligning with a broader decline across Europe as the region nears the end of the earnings season, coupled with disappointing data from the eurozone. The ZEW Indicator of Economic Sentiment for the euro area dropped to 12.5 points in November from 20.1 points in October, while the current economic situation indicator fell by 3 points to -43.8 points.
In Germany, the economic sentiment index decreased to 7.4 points in November from 13.1 points in October, reflecting a growing pessimism regarding the current economic climate. "In the current survey, economic sentiment has declined - and the outcome of the US presidential election is likely to be the main reason for this.
The fact that economic expectations for the USA are clearly rising, while economic sentiment for China and the eurozone is falling, supports this view," stated ZEW President Professor Achim Wambach. "Overall, what we're currently observing is a very dynamic development of economic expectations." In corporate news, Temenos ($TEMN) saw a gain of 4.11% after announcing new mid-term goals for 2028 as part of its updated strategy, aiming for annual recurring organic revenue exceeding $1.3 billion.
The Swiss banking software company also plans to invest an additional $30 million to $40 million above its annual cost growth in 2025, with increased investments expected in the subsequent years. Conversely, Lonza Group ($LONN) is set to enhance its bioconjugation capabilities at its Visp facility in Switzerland, introducing two multipurpose manufacturing suites covering 2,000 square meters.
The pharmaceutical manufacturer anticipates starting operations in 2028, with the stock rising by 1.01% at the close of trading..