The SMI index is currently experiencing losses, with Nestlé shares at a six-year low. UBS shares have also turned negative, contributing to the overall decline in the Swiss equity market.
Straumann shares fell by 2.6%, marking a second consecutive day at the bottom of the index due to disappointing sales figures and a lackluster performance in the US market.
Swatch Group shares dropped by 3.7% following negative analyst commentary from Berenberg, which highlighted various uncertainty factors affecting the watch manufacturer. Richemont, a competitor, saw a smaller decline of 1.6%, but this is not enough to improve the overall sentiment in the sector.