Swiss Market Ends Flat After Choppy Session
(RTTNews) - The Switzerland stock market ended flat on Monday after a choppy session, as investors largely stayed cautious, looking ahead to some crucial economic data, including U.S. inflation report, due later in the week.
The benchmark SMI ended with a small gain of 8.99 points or 0.08% at 11,107.47 after moving between 11,058.52 and 11,118.90.
Swiss Life Holding, Novartis, UBS Group and Kuehne & Nagel gained 0.7 to 1%. Zurich Insurance Group, Givaudan and Alcon posted modest gains.
Sika declined 2.8%. Richemont shed 0.89%, while Logitech an Lonza Group lost 0.66% and 0.57%, respectively.
In the Mid Price Index, Tecan Group and Adecco climbed 1.37% and 1.05%, respectively. Helvetia, Baloise Holding, Schindler Ps, Julius Baer and Swiss Prime Site also ended higher.
Meyer Burger Tech declined more than 2%. Belimo Holding ended lower by 1.63%, while AMS, DocMorris and VAT Group lost 0.9 to 1.1%.
In economic news, Switzerland's unemployment rate held steady for the second straight month in July, the State Secretariat for Economic Affairs, or SECO, said today.
The unadjusted unemployment rate came in at 1.9% in July, the same as in the previous two months. That was in line with economists' expectations. In the corresponding month last year, the jobless rate was 2%.
Data also showed that the seasonally adjusted jobless rate rose to 2.1% from 2%.
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