Swiss Market Ends Marginally Down
(RTTNews) - The Switzerland market failed to hold early gains and ended slightly down on Tuesday.
The benchmark SMI climbed to 11,189.06 after a flat start, and despite a retreat and a subsequent recover, faltered and eventually ended the day's session at 11,146.43, down 9.37 points or 0.08%.
Nestle and Kuehne & Nagel ended down 1.54% and 1.38%, respectively. Swisscom, Novartis, Richemont and Roche Holding ended lower by 0.4 to 0.8%.
UBS Group ended higher by 3.35% after activist investor Cevian Capital paid 1.2 billion euros ($1.31 billion) for a stake in the Swiss bank.
Lonza Group climbed nearly 2.5%. Partners Group gained about 1.75%, Holcim advanced nearly 1.5%, and Sika gained 1.2%.
In the Mid Price Index, SIG Combibloc ended lower by 5.69%. Meyer Burger Tech lost 4.7%, while Sandoz, PSP Swiss Property and Lindt & Spruengli ended down 1.64%, 1.25% and 1.19%, respectively.
ams OSRAM AG shares gained 5.57%. Avolta and Adecco ended higher by 1.65% and 1.3%, respectively. SGS and Straumann Holdings both ended nearly 1% up.
Data from the Federal Customs Administration showed Switzerland's foreign trade surplus decreased in November from a month ago, dropping to CHF 2.0 billion, from CHF 3.4 billion in October.
In nominal terms, exports dropped 0.5% monthly in November, while imports logged a strong rebound of 7.2%.
In real terms, exports climbed 1.8% over the month, reversing a 7.2% decline in October. Imports also recovered 1.7% after falling 3.2% in the prior month.
According to the Federation of the Swiss Watch Industry, watch exports rose 3.1% year-on-year in November.
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