Swiss Market Ends On Firm Note

RTTNews | 643 days ago
Swiss Market Ends On Firm Note

(RTTNews) - The Switzerland stock market ended on a firm note on Thursday, bucking the largely weak trend seen across Europe.

The market started off on a weak note, but emerged in positive territory about an hour later, and then stayed firm right through the day's session.

The benchmark SMI ended with a gain of 69.01 points or 0.63% at 10,993.43, the day's high.

Swiss Re gained nearly 2%. Roche Holding, Novartis, Sika and Swisscom climbed 1.2 to 1.7%.

Kuehne & Nagel ended 0.7% up, and Alcon gained 0.75%. Nestle advanved nearly 1% after it agreed to acquire Brazilian chocolate brand Kopenhagen.

Sonova dropped 2.5%. Logitech and Swiss Life Holding ended lower by 1.53% and 1.31%, respectively. UBS Group, Richemont, Lonza Group and Partners Group also ended notably lower.

In the Mid Price Index, Swiss Prime Site, Swatch Group, Lindt & Spruengli, Galenica Sante, Baloise Holding, Flughafen Zurich and PSP Swiss Property gained 0.6 to 1.2%.

AMS ended 6.25% down. Meyer Burger Tech declined 5% and VAT Group ended lower by 3.65%.

Dufry, Georg Fischer, Barry Callebaut, Tecan Group, DocMorris and Julius Baer drifted down 1 to 1.5%.

On the economic front, data from State Secretariat for Economic Affairs showed the Swiss unemployment rate rose to a non-seasonally adjusted 2% in August 2023, from 1.9% in the previous month.

Meanwhile, the youth unemployment rate, measuring job-seekers between 15-24 years old, edged up to 2.2% from a prior 1.8%.

read more
GameStop Shares Plunge After Plan To Raise $1.75 Bln

GameStop Shares Plunge After Plan To Raise $1.75 Bln

Shares of GameStop Corp. plunged around 11 percent in the extended trading on Wednesday and are currently trading 13 percent lower in the pre-market activity on the NYSE, after the company announced plan to raise $1.75 billion again in private offering, probably for Bitcoin purchase. GameStop's shares had declined sharply in March after the firm announced a $1.3 billion private offering.
RTTNews | 24 minutes ago
DAX Down Sharply As Trade Concerns, Middle East Tensions Hurt Sentiment

DAX Down Sharply As Trade Concerns, Middle East Tensions Hurt Sentiment

German stocks are notably lower on Thursday, weighed down by trade tensions and escalating tensions in the Middle East. Amid a lack of specifics in the much talked about framework agreement, it is feared that the U.S.-China trade tensions may not subside any significantly for now.
RTTNews | 1h 27min ago
UK Economy Contracts Most Since 2023

UK Economy Contracts Most Since 2023

The UK economy contracted at the fastest pace in 18 months in April as the end of stamp duty holiday, tax hike on businesses and higher US trade tariffs damped the positive momentum seen at the start of the year. Real gross domestic product declined 0.3 percent month-on-month in April, following a growth of 0.2 percent in March, the Office for National Statistics reported Thursday.
RTTNews | 1h 57min ago
FDA Upgrades Medtronic Recall Of Newport Ventilators To Class I

FDA Upgrades Medtronic Recall Of Newport Ventilators To Class I

Medical devices maker Medtronic plc has urged customers to discontinue clinical use of the recently recalled certain Newport branded ventilators and certain related service parts after the U.S. Food and Drug Administration upgraded it to a Class I recall. According to the FDA, a Class I recall is the most serious type of recall, a situation where the use of, or exposure to, a violative product...
RTTNews | 3h 15min ago