The Swiss stock market finished in negative territory on Thursday, turning in the first loss for the market this week. Investors were put into a negative mood after Moody's Investors Service downgraded Spain and Cyprus. The continued rise in the yields on Spanish and Italian government bonds also contributed to the negativity.
The Swiss Market Index fell by 0.61 percent Thursday and closed at 5,908.51. The Swiss Leader Index lost 0.77 percent and the Swiss Performance Index declined by 0.66 percent.
The Swiss National Bank on Thursday decided to retain the exchange rate cap and the near-zero interest rate. The bank also noted that it "will not tolerate" further gains in the currency and is prepared to take necessary measures at any time.
The Swiss National Bank has recommended that UBS continue with its capital strengthening process. The SNB expects Credit Suisse to accelerate its process and take all action necessary to expand its loss-absorbing capital base significantly during the current year. UBS fell by 0.3 percent Thursday and Credit Suisse declined by 10.5 percent.
Cyclicals were also weak Thursday, with the exception of Logitech, which gained 2.1 percent. Richemont fell by 1.7 percent and ABB lost 1.2 percent. Schindler declined by 1.1 percent and Holcim dropped by 1.4 percent.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.