Nike’s comeback is hitting some bumps, with the sneaker company projecting sales declines ahead, including a sharp drop in its key China market. The company said on Tuesday that it expects sales to fall by low-single digits from now through the end of 2026, with a 2% to 4% decline in the current fiscal fourth quarter. Analysts polled by FactSet had forecast a 1.9% increase this quarter. The guidance includes projections for a 20% sales decline in China in the current quarter, which comes after a 7% drop in that market during its most recently completed quarter. The outlook indicates that the turnaround plan shepherded by Chief Executive Elliott Hill faces some lofty challenges in restoring Nike’s market leadership and financial performance across the globe.

Swiss stocks turned in a fine performance on Tuesday as signs of a de-escalation in Middle East conflict helped lift sentiment. The benchmark SMI, which stayed positive right through the day, ended the session with a gain of 108.12 points or 0.85% at 12,776.79, after hitting a high of 12,850.52. UBS Group climbed nearly 4%. Senior Swiss lawmakers have reportedly assured the bank's executives that they would water down stringent new capital requirements. According to reports, the lawmakers have signaled a compromise on the lender's $22 billion capital plan. VAT Group gained about 2.75% and Galderma Group closed nearly 2.5% up, while Kuehne + Nagel and Sandoz Group ended higher by about 2.2%. ABB, Swiss Life Holding, Sonova, Helvetia Baloise Holding and Lindt & Spruengli gained 1.5%-1.7%. Lonza Group, Partners Group, Richemont, Straumann Holding, Novartis, Julius Baer, Swiss Re and Zurich Insurance Group also closed with solid gains. Swisscom drifted down by about 0.8% and Givaudan closed 0.67% down. Geberit, SGS and Holcim ended modestly lower.

Europa
European stocks ended on a firm note on Tuesday with investors reacting positively to reports that U.S. President Donald Trump is looking to end the U.S. military campaign against Iran even if the Strait of Hormuz remains largely closed. The pan European Stoxx 600 climbed 0.41%. The U.K.'s FTSE 100, Germany's DAX and France's CAC 40 closed up by 0.57%, 0.52% and 0.48%, respectively. Switzerland's SMI ended 0.85% up. Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Greece, Iceland, Ireland, Norway, Poland, Portugal, Spain, Sweden and Türkiye closed with sharp to moderate gains. Finland settled modestly higher, while Netherlands and Russia ended weak. In the UK market, miners Antofagasta, Endeavour Mining and Fresnillo gained 5.3%, 4.25% and 4.1%, respectively. Anglo American Plc climbed 2.78% and Rio Tinto moved up 2.54%, while Glencore ended 2.2% up. Metlen Energy & Metals, JD Sports Fashion, 3i Group, BAE Systems, LSEG, AutoTrader Group, RightMove, Rolls-Royce Holding, Kingfisher, Melrose Industries and Entain gained 2%-4%. Bunzl, Weir Group, Marks & Spencer, Associated British Foods, Halma, Diploma, Tesco, Natwest Bank and Rentokil Initial also posted strong gains. Shares of Domino's Pizza Group moved up sharply after the company officially appointed interim chief executive Nicola Frampton as its permanent CEO. Unilever closed 7.3% after Unilever and McCormick entered into a deal as per which McCormick will merge its operations with Unilever's food business. The deal values the combined entity at about $65 billion. IMI drifted down 2.4%, while Croda International, Diageo, Coca-Cola Europacific Partners, Convatec Group and Imperial Brands lost 1%-2%. In the German market, MTU Aero Engines climbed nearly 4%. Adidas, Deutsche Boerse, Rheinmetall, RWE, Commerzbank, Infineon, Mercedes-Benz, Zalando, Gea Group, Scout24 and Daimler Truck Holding also ended notably higher.

Stati Uniti
After moving sharply higher early in the session, stocks saw further upside over the course of the trading day on Tuesday. The major averages all showed strong upward moves, with the tech-heavy Nasdaq leading the way higher. The major averages ended the day not far off their highs of the session. The Nasdaq soared 795.99 points or 3.8 percent to 21,590.62, the S&P 500 spiked 184.80 points or 2.9 percent to 6,528.52 and the Dow surged 1,125.37 points or 2.5 percent to 46,341.51. Despite the rally on the day, the major averages all posted steep losses for the month of March. The Dow plummeted by 5.4 percent, the S&P 500 plunged by 5.1 percent and the Nasdaq tumbled by 4.8 percent. The rally on Wall Street came following reports President Donald Trump is looking to end the war in the Middle East. A report from the Wall Street Journal said Trump told aides he's willing to end the U.S. military campaign against Iran even if the Strait of Hormuz remains largely closed. Stocks saw further upside in afternoon trading as Trump seemed to confirm elements of the Journal's report in an interview the New York Post, telling the newspaper the U.S. would not be in the region 'too much longer.' Gold stocks moved sharply higher along with the price of the precious metal, resulting in a 7.2 percent spike by the NYSE Arca Gold Bugs Index. Substantial strength was also visible among semiconductor stocks, with the Philadelphia Semiconductor Index surging by 6.2 percent after ending Monday's session at a three-month closing low. Airline stocks also showed a significant move to the upside on the day, driving the NYSE Arca Airline Index up by 5.4 percent.

Asia
Significantly heightened hopes of a swift end to the war in Iran are fuelling Asian stock markets on Wednesday and triggering a surge in share prices. In Japan, the Nikkei 225 is up 4.5 per cent to 53,353 points, led by chip and banking stocks. The Japanese stock market is also benefiting from a positive Tankan report from the Bank of Japan.

Obbligazioni
In the U.S. bond market, treasuries extended the strong upward move seen in the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 3.1 basis points to 4.311 percent.

Analisi
Bank of America raises PSP target by 3% to CHF 185 – Buy
Vontobel lowers Sonova target to CHF 200 (225) – Hold
UBS lowers Suss Microtec target to EUR 55 (60) – Buy

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