Swiss stocks commenced the trading week on a positive note, with the Swiss Market Index (SMI) increasing by 0.91% by the end of Monday's trading session. This uptick occurred even as economic sentiment showed signs of decline as the year drew to a close. A recent survey conducted by UBS Group and CFA Society Switzerland revealed a significant drop in the economic sentiment index, which fell by 7.6 points to reach -20 points in December. According to UBS analysts, the long-term growth projections for Switzerland have remained relatively stable since September, estimating that growth will likely be between 1% and 2%.
Moreover, inflation is expected to stay within the Swiss National Bank's target range of 0% to 2%. This outlook reflects broader economic conditions and investor sentiment in the region. As we approach the holiday season, this week is expected to be relatively quiet in terms of economic news releases, mainly due to Christmas and other public holidays. In a noteworthy development within the corporate sector, UBS is exploring the possibility of restructuring certain business operations in France.
This decision comes amid reports of a 'less favorable' market environment and is influenced by the recent integration of Credit Suisse into UBS, as highlighted by a spokesperson in announcements to Bloomberg News. Currently, UBS is in discussions with its works council to present the proposed changes, and the bank's shares saw an increase of 1.35% at the end of the trading day. In another corporate highlight, Siegfried Holding was recognized for the fourth consecutive year as a member of the Dow Jones Sustainability Index Europe.
This accolade emphasizes Siegfried’s commitment to sustainable practices, affirming its status as the only contract development and manufacturing organization featured on the prestigious index. Despite this achievement, shares of Siegfried experienced a slight decline of 0.20% by the conclusion of Monday's trading activities..