Advertisement
Swiss Market Ends Moderately Lower
(RTTNews) - Despite a decent spell in positive territory till about an hour before noon, the Switzerland market turned weak and kept drifting lower as the session progressed on Thursday to eventually settle with a moderate loss.
The benchmark SMI, which climbed to 11,983.61, dropped to a low of 11,823.21 and finally settled at 11,836.00, recording a loss of 95.98 points or 0.8%.
Straumann Holding tumbled more than 7%. Amrize ended 3.05% down. Richemont and SIG Group closed lower by about 2.6% and 2.4%, respectively. Sika, Sandoz Group, VAT Group and Partners Group lost 2 to 2.2%.
UBS Group and Alcon drifted down 1.68% and 1.54%, respectively. Givaudan, Julius Baer, Kuehne + Nagel, Novartis, Sonova and Adecco lost 0.7 to 1%.
Logitech International climbed about 1.7%. Lindt & Spruengli, Zurich Insurance, Swiss Re, Holcim and Swiss Life Holding gained 0.3 to 0.5%.
In economic news, data from the Federal Statistical Office showed Swiss retail sales growth accelerated for the first time in six months in June, climbing up 3.8% year-on-year, much faster than the 0.3% rise in May. The expected increase was only 0.2%.
Monthly, retail sales rose 1.5% in June after falling 0.4% in May. Moreover, this was the first increase in five months.
In nominal terms, retail turnover climbed 3.3% from last year.
Japan Shares May Turn Lower Again On Wednesday
South Korea Shares May Be Stuck In Neutral
New Zealand Unemployment Data Due On Wednesday
U.S. Dollar Declines Amid Soft ISM PMI Data
TSX Up More Than 2% On All-round Buying As Investors Bet On Fed Rate Cut Hopes
Swiss Market Ends Modestly Higher
European Stocks Close Broadly Higher
