Swiss SMI index breaks through 14,000 points for first time

The Swiss stock market continued its record-breaking run on Tuesday afternoon, with the leading SMI index hitting the 14,000 point mark for the first time. The main drivers were the food companies, above all Nestlé, but also defensive stocks and cyclicals. +Get the most important news from Switzerland in your inbox These helped the SMI jump above the psychologically important threshold. As a result, the Swiss stock exchange was able to escape the negative conditions in the US and the weaker European stock markets. Some tailwind also came from New York, where the two largest stock exchanges are heading for a favourable opening after the previous day's crash. Overall, however, the financial markets remain under the spell of US customs policy. The consequences of the US Supreme Court's customs ruling have not yet been finalised, according to the market. The threat of war between the US and Iran and the potentially disruptive effects of artificial intelligence also remain in the focus ...