SMI closes 0.6 percent lower as Richemont tumbles
Published on 10/23/2026 at 23:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSWeekly balance and upcoming dates
- SMI closed at 14,462 points on October 23, 2026, down 86 points or 0.6 percent.
- Oil and technology concerns pressured Swiss stocks as quarterly earnings continued.
- Holcim gained 5.0 percent, while Richemont fell 6.4 percent.
- Novartis will publish third-quarter results on October 27 at 7:00 a.m. CET.
SMI closed on October 23, 2026 at 14,462 points, down 86 points or 0.6 percent. A selloff in luxury shares and pressure on heavyweight healthcare stocks outweighed Holcim's 5.0 percent gain, finanzen.net reported.
Richemont was the weakest SMI member, falling 6.4 percent after disappointing results from rival Kering weighed on luxury shares. Holcim rose 5.0 percent after reporting third-quarter results and raising its full-year profit outlook, Nau.ch reported.
Why did SMI fall on Friday?
Investors assessed another heavy batch of quarterly results while oil prices and technology-sector concerns pressured European equities. The SMI opened at 14,573 points, reached 14,553 points at its high and fell to 14,409 points at its low.
Seventeen of the 30 blue-chip stocks advanced, while 13 declined. The index still gained 0.5 percent over the week and was up 9.0 percent in 2026, MarketScreener reported.
Winners and losers in the SMI
Winners and losers at the close on October 23, 2026, according to finanzen.net:
- Holcim up 5.0 percent: stronger quarterly results and a higher profit outlook
- Galderma up 2.3 percent
- Partners Group up 2.1 percent
- Richemont down 6.4 percent: weak results from Kering hurt luxury shares
- Sika down 2.3 percent: investors assessed its nine-month results
- Novartis down 0.7 percent
SMI heads into a busy earnings week
The next major SMI-specific event is Novartis' third-quarter release on October 27 at 7:00 a.m. CET. The Swiss calendar also lists Logitech's second-quarter results for later that day, dpa-AFX via ariva.de reported.
- October 27, 2026, 7:00 a.m. CET: Novartis publishes third-quarter results
- October 27, 2026: Logitech publishes second-quarter results
SMI price data for October 23, 2026
SMI closed at 14,462 points on October 23, 2026 at 5:30 p.m. CEST, down 86 points or 0.6 percent from the previous close of 14,548 points, RTTNews reported. The index opened at 14,573 points, reached a high of 14,553 points and a low of 14,409 points.
SMI by the numbers on October 23, 2026
- Index: SMI
- Home exchange: SIX Swiss Exchange, Switzerland
- Close on October 23, 2026: 14,462 points
- Change versus previous close of October 22, 2026: down 86 points (down 0.6 percent)
- Previous close: 14,548 points
- Open: 14,573 points
- Day high / day low: 14,553 points / 14,409 points
- Top gainer: Holcim up 5.0 percent
- Top loser: Richemont down 6.4 percent
- Next scheduled event: October 27, 2026, 7:00 a.m. CET: Novartis third-quarter results
