Swiss Market Ends Modestly Lower
(RTTNews) - After staying a bit positive early on in the session on Monday, the Switzerland market slipped and languished in negative territory till the end of the day's session as the mood remained cautious with investors looking for directional clues.
The benchmark SMI ended down by 36.48 points or 0.29% at 12,597.82.
Logitech International closed more than 4% down. Lindt & Spruengli ended lower by about 3%, while Swiss Re, VAT Group, Straumann Holding, Givaudan, Sika, Swatch Group, Partners Group and Galderma Group lost 2 to 2.75%.
Kuehne + Nagel, Geberit and Sonova settled lower by 1.5 to 2%. Lonza Group, SGS, Schindler Ps and Richemont lost 0.7 to 1%.
Novartis climbed 1.3%. Roche Holding, Swisscom and Sandoz Group settled with modest gains.
According to a flash estimate from the State Secretariat for Economic Affairs (SECO), the Swiss economy contracted in the third quarter as higher US tariff weighed on exports.
Gross domestic product shrank 0.5% on a quarterly basis, reversing a 0.1% expansion in the second quarter. This marked the first contraction since 2023.
Driven by a sharp decline in value added in the chemical and pharmaceutical sector, industry as a whole recorded negative growth, the SECO said. The services sector grew at a below-average rate.
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