At Tuesday’s opening, the SIX Swiss Exchange was trading without a clear direction as investors remained cautious due to new geopolitical tensions. Donald Trump’s statements regarding Iran have reignited concerns around the Strait of Hormuz, immediately impacting market sentiment.
The SMI remains near equilibrium in a nervous climate
Shortly after the opening, the flagship SMI index was slightly down by 0.09% at 12,970.20 points. This cautious opening comes in a shortened trading week due to Easter Monday. Investors are torn between signs of relaxation in certain oil flows and the resurgence of geopolitical risk from American statements. The Swiss secondary indices were also in the red: the SLI lost 0.12% while the SPI declined by 0.15%.
American threats reignite market tensions
Donald Trump has further escalated diplomatic pressure by explicitly threatening strategic Iranian infrastructure. The American president stated that massive strikes could target energy facilities and bridges if Tehran does not lift the blockades around the Strait of Hormuz. For the markets, this declaration immediately revives the scenario of a major disruption in global energy supply.
Investors torn between caution and volatility
According to several Swiss financial analysts, the market remains in a phase of high uncertainty. The partial resumption of maritime traffic in the Strait of Hormuz momentarily reassured investors, but the tone of the American discourse quickly reversed this relaxation. Operators now believe that a wide range of scenarios remains open, from a rapid de-escalation of diplomatic tensions to a sudden worsening of the regional situation.
Defensive stocks show better resistance
Among large capitalizations, several stocks showed better resistance. Lindt & Sprüngli rose by 1.1%, while Logitech and Schindler each gained 0.9%. Conversely, SGS declined by 1.4%, penalized by a target price adjustment by Goldman Sachs.
Implenia and PSP Swiss Property monitored in the broader market
In the broader segment, Implenia announced a contract exceeding 200 million euros in Germany, without causing a significant reaction in the share. PSP Swiss Property declined despite Berenberg raising its target price.
Ems-Chemie impacted by its quarterly sales
Ems-Chemie experienced one of the most significant declines. The group reported a quarterly revenue of 487 million Swiss francs, down by 6.6% year-on-year, immediately impacting the stock.
