Swiss Market Ends Modestly Lower
(RTTNews) - After a weak start, the Switzerland stock market briefly moved into positive territory Tuesday morning, but retreated and spent the rest of the day's session in the red to eventually close modestly lower.
Disappointing trade data from China raised concerns about growth in the world's second largest economy, prompting investors to refrain from making significant moves. Also, investors were cautious as they looked ahead to key inflation data from U.S. and China.
The benchmark SMI ended with a loss of 50.15 points or 0.45% at 11,057.32.
Richemont shed 2.5%. Geberit, Kuehne & Nagel, Partners Group, Swiss Life Holding, Sika, UBS Group and ABB lost 1.2 to 1.6%.
Logitech, Holcim and Givaudan ended lower by 0.9 to 1%.
Roche Holding advanced 0.6%. Lonza Group, Swisscom and Novartis edged up marginally.
Among the stocks in the Mid Price Index, AMS ended 3.52% down. Swatch Group declined 2.7% and Meyer Burger Tech ended 2.1% down.
Tecan Group, VAT Group, Galenica Sante, Dufry, Julius Baer, Adecco and Helvetia also ended notably lower.
Bachem Holding climbed nearly 5%. SGS and Barry Callebaut posted moderate gains.
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