SMI falls 111 points as Holcim rallies at midday

Published on 10/23/2026 at 13:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SMI falls to 14,437 points at midday as weaker eurozone PMI data weigh, while US activity data is due at 8:45 a.m. ET.

Eurozone slowdown and Swiss movers

SMI stood at 14,437 points at 12:30 p.m. CEST on October 23, down 111 points or 0.8 percent.
Eurozone composite PMI fell to 51.9 from 53.1, missing the 52.7 consensus estimate.
Holcim led SMI gainers with a 5.9 percent rise after stronger earnings and higher guidance.
US preliminary PMIs arrive at 8:45 a.m. ET on October 23, followed by Michigan sentiment at 9:00 a.m. ET.

SMI, CH0009980894, Illustration mit AI erstellt.

The SMI fell 111 points, or 0.8 percent, to 14,437 points at 12:30 p.m. CEST on October 23. The eurozone composite PMI fell to 51.9 from 53.1, below the 52.7 consensus estimate, Reuters reported.

Holcim rose 5.9 percent after recurring operating profit reached CHF 976 million, beating the CHF 949 million consensus. The company lifted its full-year recurring operating profit growth guidance to 10 percent to 12 percent, Reuters said.

Why is the SMI down at midday?

European equities weakened as higher energy costs accompanied slower private-sector growth. The eurozone services PMI dropped to 51.7 from 53.0, while manufacturing fell to 52.4 from 52.9, InvestingLive reported.

Oil stood at USD 114.4, while the SMI remained below its opening level of 14,572.95 points. The market also faced pressure from concerns about oil prices and large artificial-intelligence investments, Zonebourse reported.

Winners and losers in the SMI

Midday winners and losers in the SMI, using SIX trading data cited by finanzen.ch:

Holcim up 5.9 percent: quarterly results and higher guidance supported the shares.
Logitech up 2.1 percent.
Geberit up 0.8 percent.
Richemont down 5.1 percent.
Sika down 1.5 percent.
ABB down 1.1 percent.

What comes next for the SMI

October 23, 2026, 8:45 a.m. ET: US preliminary services PMI, with a 57.9 consensus versus 58.8 previously, Investing.com reported.
October 23, 2026, 8:45 a.m. ET: US preliminary manufacturing PMI, with a 55.4 consensus versus 55.9 previously, Investing.com reported.
October 23, 2026, 9:00 a.m. ET: Final University of Michigan consumer sentiment, with a 46.3 consensus versus 48.1 previously, Investing.com reported.

SMI price data for October 23, 2026

The SMI stood at 14,437 points at 12:30 p.m. CEST on October 23, down 111 points or 0.8 percent from 14,548 points, finanzen.ch reported. The index opened at 14,572.95 points.

SMI by the numbers on October 23, 2026

Index: SMI
Home exchange: SIX Swiss Exchange, Switzerland
Level at 12:30 p.m. CEST on October 23, 2026: 14,437 points
Change versus previous close of October 22, 2026: down 111 points (down 0.8 percent)
Previous close: 14,548 points
Open: 14,572.95 points
Top gainer: Holcim up 5.9 percent
Top loser: Richemont down 5.1 percent
Next scheduled event: October 23, 2026, 8:45 a.m. ET: US preliminary services PMI