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Swiss Market Ends Flat

RTTNews | 1002 days ago

Swiss Market Ends Flat

(RTTNews) - The Switzerland stock market ended flat on Monday after swinging between gains and losses in cautious trade.

Worries about economic slowdown and uncertainty about the outlook for Federal Reserve's interest rate weighed on sentiment.

The benchmark SMI ended with a loss of 3.46 points or 0.03% at 11,194.67. The index moved in a tight band, scaling a low of 11,170.93 and a high of 11,239.76 intraday.

Logitech, Sonova, Givaudan, Sika and Geberit lost 1.42 to 1.83%. Nestle ended 1.6% down after the Swiss FMCG company announced that it will restrict its marketing of high sugary products to kids under the age of 16.

Alcon, Lonza Group and Partners Group ended lower by 1.1 to 1.22%.

Credit Suisse rallied 2.85%. Novartis advanced nearly 2% after the pharmaceutical company said a prostate treatment that delivers radiation to specifically targeted cancer cells helped patients in a study that will be used for U.S. regulatory approval.

UBS Group climbed 1.68%, while Swiss Re ended nearly 1% up. Roche Holding and Swiss Life Holding posted modest gains.

In the Mid Price Index, Barry Callebaut ended more than 3% down. AMS, Straumann Holding, Lindt & Spruentli, Temenos Group and Georg Fischer lost 2 to 2.7%.

Adecco, Bachem Holding, Schindler PS and Schindler Holding also ended notably lower.

VAT Group ended stronger by about 2.4%. Zur Rose climbed nearly 2%, while Tecan Group and PSP Swiss Property gained 0.73% and 0.66%, respectively.

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