Zurich, Jan 19, 2026, 18:01 CET — Market closed
Roche Holding’s non-voting equity securities slipped 0.6% to close at 346.80 Swiss francs on Monday, retreating slightly from recent highs. The shares finished just shy of their one-year top at 349.7 francs, according to market data. 1
With the Swiss market closed today, attention turns to the upcoming session and what the rest of the week holds. Traders are debating if defensive stocks such as Roche can hold steady amid price moves driven more by politics than earnings.
Global stocks dropped and the dollar slipped after U.S. President Donald Trump threatened new tariffs on eight European nations if the U.S. isn’t allowed to buy Greenland. Investors moved into the Swiss franc and yen, traditional safe havens in tense times. Trump announced the tariff would begin at 10% on Feb. 1, jumping to 25% on June 1 if no agreement is made. “Hopes that the tariff situation has calmed down for this year have been dashed for now,” said Holger Schmieding, chief economist at Berenberg. 2
Roche’s non-voting equity securities and bearer shares trade on the SIX Swiss Exchange. In the U.S., its American Depositary Receipt is listed on the OTCQX market under the ticker RHHBY. 3
Swiss shares trade from 9 a.m. to 5:30 p.m. local time, with a brief “trading-at-last” period at the official close, per SIX. Roche’s move on Monday was locked in before that final window ended. 4
Currency fluctuations matter too. A stronger franc can hurt Swiss exporters, as foreign earnings translate into fewer francs. Roche faces this exact risk.
Investors are tuning in for clues on demand across the company’s drugs and diagnostics lineup, watching closely for signs that pricing pressure in major markets is either easing up or broadening. Updates on supply chains and trade tensions would definitely grab attention at this juncture.
The next move remains uncertain. Should the tariff dispute escalate or investors conclude safe-haven bets have run their course, defensive assets could be sold off. At the same time, a strong franc might shift from being a tailwind to a drag.
Right now, Roche is acting like a macro stock. But that could shift quickly when the company releases new numbers and guidance.
Roche announced it will release its full-year 2025 results on Thursday, Jan. 29, before the Swiss market opens, marking a key upcoming event for its stock. 5
