Swiss Stocks Close in Green; UBS Group Shares Down

11:49 AM EDT, 10/07/2026 (MT Newswires) -- Swiss stocks extended their gains on Wednesday, with the Swiss Market Index closing 0.14% higher, as investors digested the latest corporate and economic updates. Switzerland's foreign currency reserves increased to 770.48 billion francs in September from 770.07 billion francs in the previous month, according to data from the Swiss National Bank (SNBN.SW). On the corporate side, Montana Aerospace (AERO.SW) gained 3.09% at closing as it reaffirmed its net sales guidance of more than 1 billion euros for 2026 and over 1.1 billion euros for 2027. It also plans to invest between 30 million euros and 40 million euros annually for both years to boost capacity in its commercial aerospace, defense and space activities. "However, the Company believes that its guidance for 2027 does not yet fully reflect the potential arising from additional opportunities in defense and space. It therefore intends to provide an updated outlook for 2027 as visibility continues to improve," the aerospace alloys company said. Deutsche Bank Research raised its price target for UBS Group (UBSG.SW) to 47 francs from 45 francs and maintained the stock's buy rating, expecting a 23% year-over-year growth in third-quarter pretax profit as the integration of Credit Suisse into the Swiss banking group reaches completion at the end of 2026. "Proposed regulation and its potential strategic implications have overshadowed UBS's strong operational execution for much of the past two-and-a-half years. However, we believe the adverse proposal from the upper house now provides a regulatory floor, similar to June 2025, improving the stock's incremental risk-reward profile. Meanwhile, the backdrop across many of UBS's businesses - most notably the Investment Bank - is less buoyant than in 1H26 but remains supportive," according to the research firm. At the end of the trading session, UBS shares were down 3.06%. In geopolitical news, US Vice President JD Vance told Reuters in an interview that Iran should do "something meaningful" to reduce its nuclear enrichment capacity as part of an agreement to end the seven-month war with the US.