Swiss Market Settles Weak
(RTTNews) - After opening with a big negative gap Tuesday morning, the Swiss market gradually recovered some lost ground, and even managed a brief spell in positive territory midway through the session, but failed to sustain momentum and finally ended the day's session in the red.
The mood was down, in line with markets across Europe, due to political uncertainty in France, and lingering concerns about tariffs and their impact on global economic growth.
The benchmark SMI closed down by 45.47 points or 0.37% at 12,160.89, after scaling a low of 12,118.84 and a high of 12,237.39 intraday.
Swatch Group ended down 3.2% and Adecco closed lower by about 3.1%. Swiss Life Holding lost nearly 2%.
Partners Group, Zurich Insurance, Julius Baer, SGS, Sonova and Sandoz Group lost 1.2 to 1.9%.
Straumann Holding, Sika, SIG Group, Richemont and Nestle also ended weak.
Amrize, Lonza Group and Lindt & Spruengli gained 1.02%, 0.94% and 0.76%, respectively. VAT Group, Logitech International and ABB posted modest gains.
Flughafen Zuerich gained about 2.5% on stronger than expected first-half earnings.
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