Wegovy maker Novo Nordisk lifted full-year guidance on surging demand for its new weight-loss pill. The Danish drugmaker said total prescriptions for the Wegovy pill reached around 1.3 million in the first quarter and now exceed 2 million since it launched. "Wegovy is driving a strong start to 2026 for Novo Nordisk, led by the rapid adoption of Wegovy pill," Chief Executive Mike Doustdar said. "As the global momentum behind peptide based therapies accelerates, Wegovy pill is defining a novel category." The pill is still only available in the U.S., but several new releases are expected in the second half of the year, though executives remain tight-lipped over which markets will be next. Launched on Jan. 5, it has garnered 2.26 billion Danish kroner ($353.6 million) of sales, more than double the 1.03 billion kroner forecast in a Visible Alpha consensus.

The Swiss stock market ended Wednesday’s session higher, having picked up pace significantly during the day, buoyed by hopes of an end to the conflict in the Middle East. Enthusiasm surrounding artificial intelligence, following strong results from US semiconductor manufacturer AMD, also bolstered share prices. On the Swiss stock market, the flagship SMI index closed up 1.77% at 13,283.20 points, after reaching an intraday high of 13,375.75 points. The SLI rose 1.83% to 2,132.31 points and the SPI gained 1.88% to 18,826.51 points. Almost all blue-chip stocks ended the day in positive territory, with the exception of Alcon (-11.0%) and Logitech (-0.4%). Despite boosting its sales, the computer peripherals manufacturer reported on Tuesday evening a sharp 12.6% rise in net profit to $711.19 million for the 2025/26 financial year. The performance of the latest interim results exceeded analysts’ expectations, prompting profit-taking. Swisscom (+0.3%) was among the worst performers, as the operator prepares to unveil its quarterly results on Thursday. Swiss Re (+2.9%) will also reveal its financial performance for the start of the year, with analysts expecting a decline.

Europe
The major European stock markets finished higher again on Wednesday, thanks to growing optimism about a potential peace deal between the United States and Iran. A massive plunge in crude oil prices and easing fears of fuel-led inflation also boosted market sentiment as the markets opened higher and remained firmly in the green throughout the day. Strong early performances from U.S. stocks and solid corporate earnings also lifted market sentiment considerably. Germany's DAX surged 516.99 points or 2.12 percent to finish at 24,918.69, while London's FTSE spiked 219.55 points or 2.15 percent to close at 10,438.66, the CAC 40 in France rallied 237.11 points or 2.94 percent to end at 8,299.42 and the SMI in Switzerland jumped 231.09 points or 1.77 percent to finish at 13,283.26. In Germany, MTU Aero Engines skyrocketed 10.14 percent, while Airbus surged 6.04 percent, Volkswagen accelerated 4.39 percent, Deutsche Bank jumped 3.87 percent, Vonovia strengthened 3.05 percent, Heidelberg Materials climbed 2.46 percent, Deutsche Telekom advanced 1.76 percent, Deutsche Post improved 1.21 percent, Deutsche Borse sank 2.02 percent and BASF dropped 1.74 percent. In London, Prudential surged 7.39 percent, while Anglo American soared 7.38 percent, Antofagasta spiked 7.22 percent, Rolls-Royce accelerated 6.42 percent, Diageo jumped 6.34 percent, Barclays climbed 5.51 percent, Lloyds banking Group collected 4.81 percent, Unilever gained 2.39 percent, British American Tobacco rose 1.95 percent, British Petroleum tumbled 3.72 percent and Shell sank 3.05 percent. In France, Safran surged 8.96 percent, while ArcelorMittal rallied 8.03 percent, Societe Generale vaulted 5.55 percent, BNP Paribas expanded 5.22 percent, Credit Agricole climbed 3.60 percent, Carrefour improved 2.30 percent, Orange gained 1.14 percent, Sanofi rose 0.65 percent and Engie lost 0.58 percent.

United States
Stocks moved sharply higher early in the session on Wednesday and saw further upside as the day progressed. The major averages added to the gains posted during Tuesday's session, with the Nasdaq and S&P 500 reaching new record closing highs. The major averages ended the day just off their highs of the session. The Nasdaq surged 512.82 points or 2 percent to 25,838.94, the S&P 500 shot up 105.90 points or 1.5 percent to 7,365.12 and the Dow jumped 612.34 points or 1.2 percent to 49,910.59. The rally on Wall Street came amid optimism about an end to the conflict in the Middle East after a report from Axios said the White House believes it's getting close to an agreement with Iran on a one-page memorandum of understanding. Citing two U.S. officials and two other sources briefed on the issue, Axios said the deal would include Iran committing to a moratorium on nuclear enrichment and both sides lifting restrictions around transit through the Strait of Hormuz. While noting that nothing has been agreed yet, the sources told Axios this was the closest the parties had been to an agreement since the war began. Adding to the optimism about a peace deal, President Donald Trump said the U.S. would pause its efforts to escort ships through the Strait of Hormuz to see whether or not the agreement can be finalized and signed. The strength on Wall Street also came amid a sharp increase by shares of Advanced Micro Devices (AMD), with the chipmaker soaring by 18.6 percent. AMD surged after reporting first quarter results that exceeded analyst estimates on both the top and bottom lines and providing upbeat second quarter guidance.

Asia
East Asian stock markets continued to rise on Thursday amid renewed hopes for a resolution to the Middle East conflict. In Tokyo, following the end of the so-called Golden Week with several consecutive public holidays, market participants are able to react to the new situation for the first time. The broad Topix index is up 3.1 per cent and is approaching its record high, whilst the Nikkei 225 index, buoyed by pent-up demand, is rising even more sharply and has already reached an all-time high.

Bonds
In the U.S. bond market, treasuries moved sharply higher, extending the rebound seen in the previous session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, slumped by 6.0 basis points to 4.356 percent.

Analysis
UBS raises Huber+Suhner to CHF 320 (230) – Buy
UBS downgrades Galenica to Neutral (Sell) – Target price remains at CHF 85
UBS raises AB InBev to EUR 85 (78) – Buy

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