Swiss Market Ends Marginally Up
(RTTNews) - The Switzerland market ended marginally up on Friday despite exhibiting weakness for much of the time past noon. Investors continued to react to earnings and assess the economic impact of reciprocal tariffs, and stayed largely cautious with their moves.
A report showing a drop in Swiss consumer confidence in the month of July hurt sentiment.
The benchmark SMI closed up 17.27 points or 0.15% at 11,866.85. The index touched a low of 11,799.59 and a high of 11,893.00.
Logitech International climbed about 2.2%. Adecco, Sonova, UBS Group, Amrize, Partners Group and Novartis gained 1 to 1.7%.
Julius Baer gained nearly 1%. ABB, Holcim, Kuehne + Nagel, Alcon, SIG Group, Richemont and Sika closed higher by 0.5 to 1%.
Sandoz Group closed nearly 6.5% down. Swiss Re ended down 3.2% and SGS closed lower by about 2.5%. Straumann Holding lost 1.4%
Roche Holding, Lonza Group, Lindt & Spruengli, Zurich Insurance and Givaudan ended down 0.5 to 1.1%.
Monthly survey results from the State Secretariat for Economic Affairs, or SECO, showed Swiss consumers remained slightly more pessimistic in July as the confidence index declined for the first time in three months.
The consumer sentiment index dropped to -33.0 in July from -32.0 in the previous month. Similarly, the index decreased from the previous year's reading of -32.0.
Among the four components, the economic outlook index negatively contributed, while past financial situation, financial outlook, and moment to make major purchases were somewhat higher compared to last year.
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