Lindt & Sprüngli has already completed its share buyback program, which began in August 2024, ahead of schedule on April 9, 2026. A total of 601 registered shares and 39,420 participation certificates with a combined value of 499.3 million Swiss francs were repurchased. A new buyback program worth up to 1 billion Swiss francs will begin in May 2026, the company confirmed on Friday.
Lindt & Sprüngli has been enchanting the world with chocolate for over 180 years. The long-established Swiss company with its roots in Zurich is a global leader in the premium chocolate category. Lindt & Sprüngli produces quality chocolates today at its 12 factories in Europe and the USA. Its products are sold by 41 subsidiaries and branch offices in around 620 of its own stores as well as via a network of around 100 distributors around the globe. With around 15,500 employees, the Lindt & Sprüngli Group reported sales of CHF 5.92 billion in 2025.

The SMI added 0.4 percent on Thursday to close at 13,160 points. The market was buoyed by defensive heavyweights: Nestlé and Roche rose by 0.2 percent and 0.8 percent, respectively. Novartis closed up 0.8 percent. The pharmaceutical company announced the expansion of health promotion programs to address gaps in care for heart disease and cancer and to reach more than 30 countries by 2030. Defensive stocks were also among the favorites outside the heavyweights: Swisscom gained 1.1 percent; in the insurance sector, Swiss Re and Swiss Life increased by 0.9 percent and 1.5 percent, respectively; among small-cap stocks, Helvetia Baloise jumped 3.3 percent. Logitech more than gave up the previous day’s gains with a 3.4 percent decline. UBS analysts commented positively on AMS-Osram and confirmed their buy recommendation with an increased price target. The stock advanced 7.9 percent.

Europa
European stock markets took a hit on Thursday as the fragile ceasefire in the Middle East triggered a spike in oil prices. The Stoxx Europe 600 index fell 0.15% on Thursday to 612.59 points. In Paris, the CAC 40 and the SBF 120 slipped 0.2%. In Frankfurt, the DAX 40 lost 1.1%, while the FTSE 100 dipped 0.1% in London. ALSTOM (-8.5%): Ahead of the May 13 release of its financial results for the 2025/2026 fiscal year, which ends in late March, rail equipment manufacturer Alstom estimated the negative impact of currency exchange rates on its annual revenue at 2.8%. EXOSENS (-4.25%): Private equity firm HLD plans to sell a new block of shares in the amplification, detection, and imaging technology specialist at a price below the previous day’s market price, a source close to the matter told Agefi-Dow Jones. HLD intends to sell 2.25 million Exosens shares, representing approximately 4.4% of the company’s capital, at a unit price of around 64.60 euros, the source added. VALLOUREC (+5.5%): The manufacturer of seamless tubes for the energy industry confirmed Thursday that it had signed a five-year supply agreement with Fervo Energy, the U.S. group specializing in next-generation geothermal energy.

Stati Uniti
On Thursday, the Dow Jones Industrial Average rose 0.6% to return to positive territory for the year lifted by optimism that the U.S. can reach a longer-term peace deal with Iran. The S&P 500 also added 0.6%, while the Nasdaq Composite Index advanced 0.8%, closing higher than it was when the conflict in Iran began. Brent crude, the international oil benchmark, added 1.2% to close at $95.92 a barrel. Stock gains on Thursday were modest but broad-based, with every S&P 500 sector except energy and healthcare closing higher. It wasn’t all good news, though. This year’s ugly software selloff resumed. The iShares Expanded Tech-Software Sector ETF, a benchmark for the industry, tumbled almost 4%, approaching its lows for the year. Recent advancements in AI models’ ability to write code have raised questions about how AI might disrupt the software industry, and Anthropic’s advanced new Mythos model, announced earlier this week, has prompted renewed selling of software shares. Among big software stocks, Palantir Technologies fell 7.3%, ServiceNow lost 7.9%, Intuit retreated 6.9% and Oracle slipped 3.7%. Countering that move in technology were strong days for Amazon, up 5.6%, and Meta Platforms, which added 2.6%.

Asia
On Friday, Asian stock markets largely followed Wall Street’s positive lead. The Japanese market is up slightly, as measured by the Topix 500. In Shanghai and Hong Kong, the indices improved by a good half a percent. In Seoul, the heavily technology-weighted Kospi is up 1.8 percent. Among individual stocks in Tokyo, shares of fashion retailer Fast Retailing are up 11 percent. The owner of Uniqlo reported strong financial results and raised its profit forecast. In Hong Kong, Nio shares dropped 5.8 percent.

Obbligazioni
The 10-year Treasury note yield remained flat at 4.29 percent on Thursday, while yields at the short end of the market decreased. As the yield on the 10-year U.S. Treasuries held steady, UBS remained cautious on U.S. duration while expecting better performance from German Bunds. Duration is the measure of a bond's sensitivity to interest-rate changes. UBS confirmed that it expects 10-year U.S. Treasury yields to test higher levels in 2026 before settling below current spot levels in 2027.

Analisi
Bucher Rating: ODDO BHF SCA initiates coverage with a Neutral rating - Target: CHF 365
Schindler N Target Price: Citigroup lowers to CHF 322 (326) - Buy
Barry Callebaut Target Price: Citigroup raises to CHF 1,400 (1,100) - Neutral

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