Swiss Market Ends Marginally Up
(RTTNews) - After moving in a very narrow range, the Switzerland benchmark SMI ended marginally up on Tuesday with select stocks finding good support.
Investors are looking ahead to the Swiss National Bank's monetary policy announcement due on Thursday. The SNB is widely expected to hold rates for now, and announce a reduction in September next year. A Bloomberg survey says the Swiss central bank will likely cut rates twice next year.
The SMI ended up 20.86 points or 0.19% at 11,151.22, after moving between 11,119.69 and 11,168.18.
Kuehne & Nagel rallied more than 3%. Logitech International climbed 1.67%, while Swiss Re, Givaudan, Lonza Group, Geberit, Holcim and Zurich Insurance Group gained 0.6 to 0.85%.
Partners Group drifted down 0.81%. Roche Holding, ABB and UBS Group declined marginally.
In the Mid Price Index, Sandoz, VAT Group, BKW and Straumann Holding gained 1 to 1.4%.
Schindler Ps ended nearly 1% down. Avolta, PSP Swiss Property, Lindt & Spruengli, Schindler Holding and Clariant gained 0.5 to 0.8%.
Meyer Burger Tech plunged nearly 19%. Barry Callebaut ended 2.79% down. ams OSRAM AG dropped 2.3%, while SIG Combibloc and Julius Baer ended lower by 1.4% and 1.28%, respectively.
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