Swiss Stocks Close Little Changed; Cicor Technologies Up

12:11 PM EST, 01/07/2026 (MT Newswires) -- Swiss stocks were flat on Wednesday, with the Swiss Market Index down 0.07% at closing, as investors assess fresh geopolitical developments and economic data prints in Europe and abroad. Deutsche Bank Research resumed its coverage of Zurich Insurance Group (ZURN.SW) with a hold recommendation and a price target of 575 francs, while its price target for Swiss Life Holding's (SLHN.SW) hold-rated stock was raised to 815 francs from 800 francs. Zurich's and Swiss Life's shares closed 3.07% and 3.41% lower, respectively. "European Insurance has outperformed the European market, but underperformed European Banks over the past 1, 3 and 5 years. The Composites, Regionals and Reinsurers have been the strongest performing sub-sectors on the back of capital returns, favourable P&C pricing and positive earnings revisions," the research firm said. "Looking forward, the sector offers c8% book value growth, c9% earnings growth and a 4.5% normal dividend yield supported by solvency ratios above risk appetite, acceptable levels of financial leverage and decent cash generation." Meanwhile, Cicor Technologies' (CICN.SW) proposed takeover of British company TT Electronics via a scheme of arrangement fell through after its offer failed to secure the required 75% majority of shareholder votes. Consequently, the Swiss electronic components group will recognize 5 million francs as operating expenses and 2 million francs as financial expenses in its 2025 income statement, leading to a revised full-year guidance. The stock gained 1.61% at the end of the trading session. Elsewhere and in economic news, the annual inflation rate in the euro area edged down to 2% in December 2025 from 2.1% in the previous month, while the annual core inflation rate declined to 2.3% from 2.4%, Eurostat's flash estimate showed. On the geopolitical front, the leaders of France, Germany, Italy, the UK, Poland, Spain and Denmark expressed their support for Greenland in a joint statement, saying the Arctic island belongs to its people. "It is for Denmark and Greenland, and them only, to decide on matters concerning Denmark and Greenland," the leaders noted, amid renewed threats from the US to take control of the autonomous Danish territory.