Swatch Gains as CEO Hayek Eases Concerns Over US Tariffs (1)

Swatch Group AG shares jumped after Chief Executive Officer Nick Hayek soothed investor nerves over the impact of Donald Trump’s tariffs on the watchmaker’s US business.

Speaking on a call with investors and analysts, Hayek said the US watch market remains strong, according to a note from Citigroup Inc. analyst Thomas Chauvet.

Swatch, whose watch brands include Omega and Tissot, declined to comment on the CEO’s remarks.

The stock rose as much as 6.8% in Swiss trading, while rivals Richemont, Kering SA, Watches of Switzerland Group Plc and LVMH also gained.

According to Chauvet, Swatch will raise ...