Swiss Market Index Ends Week on Negative Note; Sika, Novartis Shares Down

11:49 AM EDT, 10/23/2026 (MT Newswires) -- The blue-chip Swiss Market Index concluded Friday's trading session 0.59% in the red as the corporate earnings season continued amid a quiet day of local economic news. Sika (SIKA.SW) booked a year-over-year increase in nine-month net sales to 8.71 billion francs from 8.58 billion francs, while net profit grew 1.9% to 887.8 million francs. Looking forward, the Swiss specialty chemicals company reaffirmed its full-year 2026 guidance, including local currency growth of between 3% and 6%, alongside its medium-term strategic targets for sustainable and profitable growth. "Sika's momentum continued through the third quarter, with 6.1% local currency growth and 4.8% for the first nine months of the year. This performance reflects continued market share gains in what remains a muted market environment. We are delivering this outperformance from our leading global positions in attractive growth segments, particularly in large infrastructure projects, data centers, and energy infrastructure," Chief Executive Officer Thomas Hasler said. The stock was down 2.33% at closing. Composite materials company Gurit (GURN.SW), building materials group Holcim (HOLN.SW), and testing and certification company SGS (SGSN.SW) also reported financial updates. Meanwhile, Novartis (NOVN.SW) reported that the six-year follow-up analysis of its late-stage Natalee study for Kisqali combined with endocrine therapy in patients with stage 2 and 3 HR+/HER2- early breast cancer at high risk of recurrence showed a clinically meaningful improvement in overall survival, compared with endocrine therapy alone. The combination treatment's safety profile was also observed to be in line with previous analyses, without any new safety signals. The Swiss pharmaceutical major's shares closed 0.68% lower. Elsewhere and in other news, the seasonally adjusted S&P Global Flash Eurozone Composite PMI Output Index declined to a four-month low of 51.9 in October from 53.1 in September. The provisional reading marks the fourth straight month of business activity expansion in the euro area, albeit at a slower pace. On the geopolitical front, the US ambassador to the United Nations told London's Financial Times that the war with Iran could last another year, saying Washington is prepared for a prolonged conflict, which has now dragged on for nearly nine months.