Swiss Market Ends Flat; Lonza Plunges Sharply

RTTNews | 770 dias atrás
Swiss Market Ends Flat; Lonza Plunges Sharply

(RTTNews) - After swinging between gains and losses, the Switzerland market ended flat on Friday, as investors were quite reluctant to make significant moves amid a lack of triggers.

The benchmark SMI, which climbed to 11,246.30 at the start, ended the session with a small gain of 5.83 points or 0.05% at 11,207.38, about 40 points off the day's low.

Lonza Group shares plunged more than 11% as the contract drug manufacturer lowered its 2023 sales and earnings targets after posting mixed first-half results.

Givaudan ended 2.5% down. Kuehne & Nagel and Sonova lost 0.5% and 0.3%, respectively, while Swisscom edged down marginally.

Partners Group and Richemont moved up 1.77% and 1.53%, respectively. Zurich Insurance Group gained 1% and ABB ended nearly 1% up. Swiss Re, Logitech, Nestle, Geberit and UBS Group posted modest gains.

In the Mid Price Index, Georg Fischer, Bachem Holding, SGS and Straumann Holding lost 2 to 3%.

Julius Baer, AMS, Dufry, Lindt & Spruengli, Barry Callebaut, Meyer Burger Tech and SIG Combibloc also ended notably lower.

read more
Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
RTTNews | 1h 5min atrás
European Stocks Close Lower On Geopolitical Tensions

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
RTTNews | 1h 34min atrás
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | 4h 37min atrás
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | 5h 21min atrás
German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1
RTTNews | 5h 50min atrás