Swiss stocks slip as post-US election optimism fades

The Swiss stock market closed moderately lower on Thursday after a directionless trading session, dampened by post-US election disappointment. The SMI fell 0.4 percent to 14,967 points, despite hitting a record high of 15,092 points earlier in the day. Investors grew concerned about potential US regulatory tightening on data center construction, while geopolitical risks in the Middle East and inflation worries also weighed on sentiment. ABB suffered the largest loss at 4.2 percent after Chinese authorities blocked the sale of its robotics division to Softbank, and tech stocks like Inficon and Comet also declined sharply. Defensive stocks fared better, with Nestlé gaining 1.6 percent and insurers and reinsurers in demand. Swiss Re rose 2.0 percent on better-than-expected earnings, and Swisscom gained 3.3 percent after reporting results, with both reaching new highs. Attention now turns to the US jobs report due Friday.