Swiss Market Update – December 2025

The Swiss Market Index (SMI) closed the year on a modestly positive note, remaining largely unchanged on the last trading day of 2025. In the final session on Monday, December 29, the index settled at 13 240.59 points, down only 0.02 % from the previous close. This slight decline came after a brief early‑morning gain of 0.11 % that pushed the index to 13 257.94 points at 09:09 GMT.

Trading Dynamics

  • Opening movement: The SMI began the day with a 0.11 % lift, reflecting a cautious but optimistic sentiment among investors.
  • Mid‑day stability: By 12:08 GMT the index was virtually flat at 13 243.25 points, showing little volatility throughout the day.
  • Closing performance: The final close of 13 240.59 points signified a 0.02 % fall, leaving the index effectively unchanged from its prior level.

The market’s behaviour mirrored the subdued tone that prevailed across European exchanges after the Christmas break, as traders awaited the release of the Federal Open Market Committee (FOMC) minutes. European markets opened on a cautious note on Tuesday, and the Swiss benchmark’s near‑flat trajectory aligned with this broader sentiment.

Market Capitalisation

At the close of the day, the companies comprising the SMI represented a total market capitalisation of 1.532 billion euros. This figure remained consistent with the previous day’s valuation, underscoring the index’s stability in the face of global economic uncertainties.

Year‑End Context

  • 52‑week range: The SMI’s 2025 performance sits comfortably within its 52‑week high of 13 288.7 (recorded on 22 December) and its 52‑week low of 10 699.7 (on 8 April).
  • Close price: As of 28 December, the index closed at 13 240.6 points, a slight dip from the 13 240.59 points recorded at the end of the trading day.

Outlook

Analysts expect the SMI to finish 2025 on a positive trajectory, with no significant “fireworks” anticipated for the German DAX or other major European indices in the coming year. The Swiss market’s muted performance on the last trading day is likely a reflection of broader market caution rather than a fundamental shift in the underlying Swiss economy.

In summary, the SMI’s end‑of‑year performance highlights a market that is largely stable, with modest gains and losses that align with global economic expectations as the new year unfolds.