Swiss Stocks Fall as Inflation Hits Highest Level Since December 2023

11:50 AM EST, 11/03/2026 (MT Newswires) -- Swiss stocks were lower on Tuesday, with the Swiss Market Index down 0.40% at closing, as investors assessed the latest inflation figures and geopolitical developments in the Middle East. The annual inflation rate in Switzerland was 1.5% in October 2026, compared with 1% in the previous month, reaching its highest level since December 2023, government data showed. On a monthly basis, consumer prices edged up 0.2%, compared with the previous month's zero growth. "The 0.2% increase compared with the previous month is due to several factors including rising prices for heating oil, petrol and diesel. Prices for women's and men's footwear also recorded a price increase, as did outpatient medical services in hospitals. In contrast, prices for medical services at local surgeries and international package holidays decreased, as did those for hotels," the Federal Statistical Office said. Over to corporates, Lonza Group (LONN.SW) agreed to acquire five contract development and manufacturing organization manufacturing sites in the US from German science and technology company Merck KGaA at a total enterprise valuation in the low- to mid-triple-digit million Swiss francs. The deal, which is anticipated to complete in mid-2027, expands the Swiss group's US manufacturing footprint to nine sites from four. Lonza's shares ended the trading session 0.62% in the green. "This acquisition is a strong fit with our One Lonza Strategy and reflects our disciplined approach to capital allocation, investing in opportunities that will drive long -term, profitable growth and deliver attractive returns," according to Chief Executive Officer Wolfgang Wienand. "With high demand for bioconjugates and viral vectors, the acquired sites will strengthen our ability to support customers from innovation to launch and commercial supply." Meanwhile, Geberit (GEBN.SW) booked a year-over-year increase in third-quarter net income to 165.8 million francs from 155.8 million francs, while net sales rose to 823.9 million francs from 782.5 million francs. For 2026, the Swiss sanitary products and bathroom ceramics manufacturer expects net sales growth of 5% to 6% in local currencies. At the close, the stock shed 2.21%. Elsewhere and in geopolitical news, Qatari mediators stepped up their efforts "to narrow gaps" between the US and Iran amid hopes that a version of the new draft proposal to end the war would be reached, a senior Iranian official told Reuters. The news comes as the US carried out "defensive" strikes overnight on Iran's Qeshm Island in the Strait of Hormuz.