Swiss Market Index Recovers as Unemployment Rate Holds Steady

12:15 PM EST, 12/04/2025 (MT Newswires) -- Swiss stocks staged a recovery on Thursday as markets assess a fresh batch of economic and private sector data releases. Joining a regional rally in Europe, the Swiss Market Index ended the trading session 0.27% higher. Switzerland's unemployment rate in November remained unchanged from October at 2.9%, government data showed. The number of unemployed people rose by 3,648 month over month to 138,860 in November. Meanwhile, the country's manufacturing PMI increased to 49.7 in November from 48.2 in October, according to data from procure.ch and UBS. On the corporate side, ABB (ABBN.SW) is purchasing a minority stake in UK-based artificial intelligence-driven optimization software developer OctaiPipe for an undisclosed sum. The Swiss electrification and automation company is making the strategic investment through its ABB Motion Ventures unit, with the deal aimed at helping data centers enhance their cooling infrastructure. ABB's stock was up 2.28% at closing. On the flip side, Leonteq (LEON.SW) saw its shares drop 10.30% after disclosing that it expects to post an underlying loss in the low double-digit millions for full-year 2025. The Swiss financial technology group also anticipates 10 million francs in costs as a result of its resizing and regulatory transition. Meanwhile, underlying costs are now anticipated to come in at 205 million francs, down from its previous guidance of 220 million francs. "Our progress in the client business and in restoring client confidence underlines the right direction of our ['Resize, Optimize, Expand'] strategy. We also completed the transition to capital calculations under the final Basel III Standards swiftly and addressed remaining legacy matters," Chief Executive Officer Christian Spieler said. "At the same time, our business model still remains exposed to market conditions. The measures we are implementing to expand our revenue base and improve our organization more broadly will enhance our fee production and reduce dependency on the equity trading environment over time, supporting the delivery of sustainable value for clients and shareholders."