Watches of Switzerland Group Plc shares rose the most since April after the company’s outlook for the first half of its financial year eased investors’ concerns over the impact of US tariffs.

The stock jumped as much as 11% in early trading and was 7.2% higher by 9:46 a.m. in London. Even so, the shares remain near 2020 lows due to concerns over soft demand for high-end watches and the 39% levy the US imposed on imports from Switzerland.

Trading has been “consistently strong,” particularly in the US, in the fiscal first half — which runs through October — despite the announcement of increased tariffs, the group said Wednesday. The top seller of Rolex watches in the UK also flagged the success of its flagship boutique on Old Bond Street in London.

“The general mood in Switzerland is t

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