Why is the Swiss Market Index down today?

Weak Swiss manufacturing PMI at 45.8 signals factory contraction, pressuring cyclicals. Eurozone CPI at 2.0% stabilizes rate expectations but does not boost growth. Together, these factors tilt flows toward defensives and away from growth-sensitive shares, pulling the index modestly lower.

What does a Swiss manufacturing PMI of 45.8 mean?

A PMI below 50 shows contraction. At 45.8, Swiss factories report shrinking activity, often tied to slower orders and output. This can weigh on industrials, exporters, and banks on the Swiss Market Index, while investors look for stability in defensives until momentum improves.

How does Eurozone CPI at 2.0% affect Swiss stocks?

Inflation at 2.0% lowers pressure for more tightening, which helps defensives by supporting valuation multiples. However, it does not guarantee stronger growth, so cyclicals may not rally. For Swiss shares, steady inflation is a mild positive if paired with better activity data and a stable franc.

What key levels matter for the Swiss Market Index now?

We are watching resistance near 13,335 to 13,419 and the 52-week high at 13,394. Initial support sits around 13,100, then 13,000. Holding above the 50-day average near 12,766 keeps the broader uptrend intact, but overbought momentum suggests patience on fresh entries.

Global Market Insights

^SSMI Today, January 9: Swiss Stocks Slip on PMI Slump, CPI at 2%

ByHuzaifa Zahoor January 9, 2026January 9, 2026

The Swiss Market Index is lower on January 9 as weak factory data meets steady inflation in Europe. Switzerland’s manufacturing PMI fell to 45.8 in December, while services edged back above 50. Eurozone CPI held at 2.0% year over year, easing rate fears but not growth worries. By midday, the index (^SSMI) trades near 13,247, down about 0.6%. We see cyclicals under pressure and defensives firmer on the SIX Swiss Exchange as investors lean toward earnings stability.