Swiss Stock Market Today: SMI Edges Higher Toward Record as Cyclicals Rally, Leonteq Crashes – 4 December 2025
The Swiss Market Index closed up 0.3% at 12,896.37 on Thursday, recovering from Wednesday’s dip and nearing its March record high. Cyclical and financial shares led gains on renewed US rate-cut hopes, while defensives lagged. Leonteq plunged after warning of a full-year loss, marking the day’s sharpest single-stock move. The SMI is now up about 11% for the year.
