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Swiss Market Ends Marginally Down After Choppy Session
(RTTNews) - Despite staying positive for much of the day's trading session, the Switzerland market closed slightly weak on Monday with a few stocks turning weak past mid afternoon, as investors turned cautious amid a lack of prominent triggers.
Renewed concerns about tariffs and caution ahead of policy announcements from the Federal Reserve and the Bank of England contributed to the subdued mood in the market.
The benchmark SMI closed down 20.76 points or 0.17% at 12,233.03, the day's low. The index touched a high of 12,318.91 in the session.
Adecco ended down by 2.59%. VAT Group and Swatch Group both closed lower by about 1.9%. Novartis ended 1.36% down.
Richemont, Straumann Holding, SIG Group, Alcon and Sika lost 0.5 to 0.8%.
Swiss Re climbed nearly 1.5%. Swiss Life Holding, Zurich Insurance, Geberit and UBS Group closed higher by 0.6 to 1.1%, while, ABB, Julius Baer, Kuehnd + Nagel and Sandoz Group posted modest gains.
On the economic front, Switzerland's consumer prices showed a flat change in April, data from the Federal Statistical Office showed. The consumer price index showed no variations compared to last year, following a stable increase of 0.3% in March.
Further, this was the lowest level since March 2021, when prices were down by 0.2%.
Excluding food and energy, core inflation moderated to 0.6% from 0.9% a month ago.
Month-on-month, consumer prices stalled for the second straight month in April.
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