Swiss Market Index Advances; Sika Bolsters Adhesives Business in Asia

11:54 AM EDT, 10/21/2026 (MT Newswires) -- Swiss stocks remained in the green on Wednesday, with the Swiss Market Index up 0.51% at closing, amid a quiet day of local economic news. Sika (SIKA.SW) agreed to buy the adhesives business of Japan-based chemical company Resonac, with the transaction anticipated to complete in mid-2027. The Swiss specialty chemicals company's shares ended the trading session 0.65% higher. "This acquisition will strengthen our adhesives business in Asia and expand our ability to serve key customers with a broader range of innovative solutions. The strong alignment of technologies and customer relationships will create significant cross-selling opportunities, driving additional growth as well as efficiencies," said Philippe Jost, Sika's regional manager for Asia/Pacific. Meanwhile, Swiss eye care products group Alcon (ALC.SW) bolstered its retinal disease portfolio with its acquisition of biotechnology company Neurotech Pharmaceuticals for $550 million, with potential additional contingent payments tied to commercial milestones. The deal includes the target company's Encelto, a cell-based gene therapy for treating adults with idiopathic macular telangiectasia type 2. At closing, the stock added 0.29%. Analysts at AlphaValue/Baader Europe described UBS Group (UBSG.SW) executives' threats to abandon Switzerland over more stringent capital rules as a "reckless game of poker" mainly driven by their "fiduciary duty" to shareholders rather than the security of clients. "As tensions peak, the government will not yield on regulations it views as existential to the nation's financial stability. If the friction becomes unmanageable, the institution will endure, but the individuals at the top may not. [Swiss Finance Minister] Karin Keller-Sutter and the government may be positioned to win this arm-wrestle. If push comes to shove, [UBS Chairman Colm Kelleher and Chief Executive Officer Sergio Ermotti] will have to go. UBS will stay," the research firm said. UBS was up 1.13%. Elsewhere and in economic news, the annual inflation rate in the UK rose to 3.5% in September from 3.1% in August, while annual core inflation edged up to 2.8% from 2.6%.