Swiss Market Ends On Firm Note
(RTTNews) - The Switzerland market ended on a firm note on Tuesday, in line with markets across Europe, as investors shrugged off tariff concerns and picked up stocks at reduced levels.
The benchmark SMI closed up 88.50 points or 0.7% at 12,686.62. The index touched a high of 12,754.44 in the session.
Adecco gained about 2.3%. Logitech International climbed nearly 2%, while SGS ended 1.64% up.
ABB, Swiss Re, Partners Group, Holcim, Zurich Insurance, Lindt & Spruengli, Richemont, Nestle and SIG Group gained 0.9 to 1.42%.
Sandoz Group and Swatch Group closed lower by 1.7% and 1.58%, respectively. Alcon ended down 1.08%.
Data from the Federal Statistical Office said retail sales in Switzerland rose 1.6% year-on-year in February, slowing from an upwardly revised 2.9% gain in the previous month. This marked the weakest growth in retail trade since November 2024.
On a seasonally adjusted monthly basis, retail trade fell 0.7% in February, reversing an upwardly revised 0.7% rise in the preceding month.
The Swiss procure.ch PMI fell to 48.9 in March from 49.6 in February, according to a report from procure.ch & UBS. The PMI reading was expected to come in at 50.5.
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