The Swiss Market Index advanced by 0.62 percent to 13,788 points on Tuesday, supported by lower bond yields and falling petroleum prices. During the trading session, the benchmark index reached a high of 13,902 points. Among the favored equities were Amrize, which rose 1.7 percent, UBS and Holcim, which each gained 1.4 percent, and Nestlé with an increase of 1.0 percent. Lonza led the index earlier in the session with a 2.6 percent gain before profit-taking pared the advance to 0.2 percent. Lonza found support in study results from US customer Vaxcyte, which met targets in a registrational study for its pneumococcal vaccine. Pharmaceutical heavyweights Novartis and Roche posted modest gains of 0.6 percent and 0.3 percent, respectively. Partners Group shares added 0.7 percent as the private markets firm moved toward the dissolution of a London-listed private equity fund, following a vote by approximately three-quarters of investors in 'Partners Group Private Equity Limited' in favor of an exit.
Sandoz and Galderma opened significantly higher before encountering profit-taking, finishing down 0.3 percent and 0.1 percent, respectively. Logitech gained 0.6 percent following a late-session lift in the final half-hour of trading. In the broader market, Komax shares jumped 8.1 percent following a price target increase, Skan rose 5.5 percent, and Aryzta advanced 4.1 percent. Flughafen Zürich shares showed a muted response, rising 0.5 percent despite the airport recording its highest-ever single-day passenger volume on the previous Sunday. Idorsia shares ended the session in negative territory.
US equities opened higher with record levels for the S&P 500 and Nasdaq 100 indexes, aided by easing oil and bond markets alongside ongoing strength in technology stocks. The Dow Jones Industrial Average climbed 0.5 percent to 51,530 points. The broader S&P 500 reached a record high of 7,835 points and traded 0.7 percent higher at 7,829 points, while the technology-heavy Nasdaq 100 hit a record level of 31,328 points, ending up 0.8 percent at 31,314 points. Consorsbank market analyst Jochen Stanzl stated that the new Nasdaq high demonstrated confidence in continued strong artificial intelligence demand. Nvidia shares extended their record run with a 1.5 percent rise to $242.40, bringing the world's most valuable publicly traded company closer to a $6 trillion market capitalization, a milestone expected near a share price of just under $249.
Constellation Energy shares advanced after securing a multi-billion-dollar electricity supply contract with Alphabet subsidiary Google to power energy-intensive AI data centers. The largest US nuclear plant operator saw its shares jump 9.4 percent. The agreement involves supplying 3,590 megawatts through capacity increases at eleven nuclear power plants located in Illinois, Pennsylvania, and New Jersey. Constellation plans to invest more than $4.3 billion under the accord, with initial power deliveries from the upgraded facilities anticipated in 2028. The agreement responds to a proposal from the largest US grid operator, PJM, requiring data centers to secure dedicated power supplies or face disconnection during peak demand periods. Borgwarner shares rose 5.2 percent following an upgrade to 'Overweight' by Morgan Stanley, which cited sustained strong demand for combustion and hybrid engines. Option Care Health shares surged 33 percent to $31.05 as private equity firms McKesson and Clayton Dubilier & Rice proposed a buyout of the infusion services provider at $32.05 per share, representing an enterprise value of approximately $5.8 billion.
Declining oil prices and bond yields provided support across financial markets. The yield on 30-year US Treasury bonds fell to 5.626 percent after hitting its highest level since 2002 at 5.702 percent in the previous session. Crude oil prices dropped by 1.5 to 2 percent, with Brent crude trading at $98.00 per barrel and WTI crude easing to $88.03 per barrel, weighed down by robust exports from the Middle East and the release of emergency reserves by G7 nations. Investor sentiment also drew support from expectations for a strong earnings season and ongoing enthusiasm for artificial intelligence, with Dakota Wealth portfolio manager Robert Pavlik noting expectations for the information technology sector to lead performance. AMD shares gained 2.6 percent as the semiconductor manufacturer expanded production to meet high demand for computer chips.
