Swiss Blue-chip Index Little Changed Amid Earnings Buzz; Nestlé Deconsolidates Russian Business

11:54 AM EDT, 10/22/2026 (MT Newswires) -- Swiss equities were little changed on Thursday, with the Swiss Market Index closing 0.03% lower, amid a slew of corporate earnings releases that hit the market. Nestlé (NESN.SW) saw its shares rise 1.08% after delivering organic sales growth of 4% year over year in the third quarter, with total group sales reaching 22.76 billion francs. Real internal growth, which was positive across all of the consumer goods giant's zones and globally managed businesses, increased 2.8% over the period. The company also deconsolidated its Russian business following the placement of the operations under temporary external administration. "On deconsolidation, net assets of approximately CHF 1.6 billion have been derecognized. In addition, the Group has recognized a charge of approximately CHF 1.4 billion in respect of cumulative currency translation adjustments, which is non-cash and will have no impact on the Group's total equity," Nestlé said. "In total, the deconsolidation adversely impacts Group net debt by approximately CHF 0.9 billion for year-end 2026." Meanwhile, Roche's (RO.SW) third-quarter sales grew 7% on an annual basis, at constant exchange rates, to 16.13 billion francs, on the back of higher sales at both of the group's pharmaceuticals and diagnostics divisions. For full-year 2026, the Swiss drugmaker confirmed its outlook, including expectations of mid-single-digit growth in sales. The stock was up 0.20% at closing. Other Switzerland-listed heavyweights that published financial updates included escalators and elevators manufacturer Schindler Holding (SCHP.SW), logistics group Kuehne+Nagel (KNIN.SW), pharmaceutical and logistics company Galenica (GALE.SW), and dermatology company Galderma Group (GALD.SW). On the economic front, the Federal Statistical Office's second estimate showed that Switzerland's hotel sector recorded a 5.9% annual increase in overnight stays for September. Hotel bookings by Swiss nationals were up 5%, while those from foreigners rose 6.7%. Beyond Switzerland and in geopolitical news, the US and Israel have reportedly developed specific plans for renewed military strikes against Iran after the November midterm elections in the US, unnamed US officials told the New York Times.