Advertisement
Swiss Market Ends On Weak Note
(RTTNews) - After a flat start and a subsequent modest upmove, the Switzerland market pared gains and drifted down into negative territory about an hour past noon and finally settled on a weak note.
A lack of fresh triggers, and uncertainty about U.S.-European Union trade deal rendered the mood cautious.
The benchmark SMI closed down 54.36 points or 0.44% at 12,165.27. The index, which advanced to 12,280.50 earlier in the session, dropped to a low of 12,144.64 in the final hour.
Novartis ended down 1.72%. Swiss Re, Nestle, Zurich Insurance, Roche Holding, Swiss Life Holding and Alcon lost 1 to 1.4%.
VAT Group climbed 2.62%, Sika, Straumann Holding and Swatch Group advanced 2.1 to 2.2%, while Kuehne + Nagel, Holcim, Geberit, Partners Group, ABB, UBS Group, Sonova and Richemont gained 1 to 1.4%.
In economic releases, data from the U.S. Labor Department showed the annual inflation in U.S. eased to 2.3% in April from 2.4% in March, below market expectations of 2.4%. The annual core inflation rate stood at 2.8%, unchanged from the previous month and in line with expectations.
Pound Eases Against Most Majors
Swiss Market Ends Marginally Down
European Markets Close On Firm Note As Stocks Rebound On Bargain Hunting
U.S. Factory Orders Pull Back Sharply In June
Weak Jobs Data Limits Dollar's Rebound
Eurozone Investor Sentiment Weakens Unexpectedly
Bay Street Seen Opening On Cautious Note
