Swiss stocks welcomed the new trading week in the green as investors prepare for a number of economic data releases in the US and Europe over the coming days. Amid a quiet day of local economic news, the Swiss Market Index edged up 0.89% at Monday's close. In neighboring Germany, Switzerland's top trading partner, an ifo survey showed that 41.5% of companies reported a lack of orders in October, compared with 39.4% in July.
The latest figure marks the highest level since the financial crisis 16 years ago. On the corporate front, Deutsche Bank Research raised its price target on UBS Group to 27 francs from 26 francs while reiterating its hold rating. Analysts cited the Swiss banking group's good third-quarter results, with the positive performance in wealth and asset management and investment banking expected to benefit from the initial market reaction to the US elections.
UBS added 1.67% at closing. "Also, we see near-term momentum for its sales & trading businesses as well as long-term benefits for its (US) corporate finance franchise, which was materially strengthened with the Credit Suisse acquisition. Both divisions have been key drivers of our forecast upgrades," Deutsche Bank Research said. Meanwhile, LEM's shares plunged 21.94% as it reported a 29.9% year-over-year drop in total sales to 156.6 million francs for the first half of fiscal 2025, with profit also falling over the period to 8.6 million francs from 43.4 million francs.
Looking ahead, the electrical measurement company anticipates that the business environment will remain subdued for the remainder of its fiscal year..