Swiss Market Ends Marginally Up

RTTNews | 132 days ago
Swiss Market Ends Marginally Up

(RTTNews) - The Switzerland market pared some intraday gains and ended marginally up on Wednesday as stocks stayed a bit sluggish past mid afternoon.

The mood in the market remained positive thanks to a firm trend across European markets following some impressive earnings updates, and slightly easing geopolitical concerns after the U.S. and Ukraine agreed on a minerals deal.

The benchmark SMI settled with a gain of 17.50 points or 0.13% at 13,042.51, after climbing to a high of 13,100.22.

Adecco soared 12.3%. The staffing company reported higher profit in its fourth quarter, and the Board of Directors proposed to distribute a dividend. Looking ahead, for the first quarter, Adecco expects gross margin to be higher sequentially, in line with normal seasonality.

In its fourth quarter, Adecco's net income grew 6% to 73 million euros from last year's 68 million euros. Earnings per share were 0.43 euro, up 7% from prior year's 0.40 euro. Adjusted earnings per share were 0.63 euro, compared to 0.75 euro last year.

Alcon climbed 5.44%. Alcon's fourth-quarter revenue increased 6.2% to $2.477 billion from $2.332 billion last year.

Swiss Re gained about 3.75%. Richemont, Geberit, Holcim and UBS Group ended higher by 2.1 to 2.5%.

Givaudan and Julius Baer both gained about 1.85%. Logitech International, Swiss Life Holding, Partners Group, VAT Group and ABB moved up 1 to 1.4%.

Sika gained nearly 1%. Zurich Insurance Group and Schindler Ps posted modest gains.

Novartis lost about 3.7%. The investment entity of the Sandoz family, Emasan AG, has sold a substantial portion of its stake in Swiss pharmaceutical giant Novartis, netting 2.6 billion Swiss francs. Goldman Sachs, the bookrunner on the deal, confirmed the transaction.

Lindt & Spruengli declined nearly 2.5%. Swatch Group, Nestle, SIG Group and SGS lost 1.2 to 1.7%.

A report from UBS & CFA Society Switzerland said the Swiss investors' sentiment index fell by 14.3 points from the previous month to 3.4 in February of 2025, pointing to a sharp decline in the level of optimism for Swiss market players.

read more
UK Stocks Turning In Mixed Performance In Cautious Trade

UK Stocks Turning In Mixed Performance In Cautious Trade

U.K. stocks are turning in a mixed performance Tuesday morning as investors are treading cautiously, keeping track of U.S. President Donald Trump's tariff plans and the potential risks to global economic growth.
RTTNews | 5h 32min ago
CAC 40 Slightly Lower In Lackluster Trade

CAC 40 Slightly Lower In Lackluster Trade

French stocks are slightly lower on Tuesday with investors making cautious moves while closely following the developments on the trade front.
RTTNews | 6h 18min ago
Australia Central Bank Unexpectedly Maintains Status Quo

Australia Central Bank Unexpectedly Maintains Status Quo

The Reserve Bank of Australia adopted a wait-and-see approach on Tuesday, defying expectations for a quarter-point rate cut but confirmed that an easing cycle is coming. The policy board, governed by Michele Bullock, decided to hold the cash rate target at 3.85 percent. A majority of six members voted to hold the rate, while three members sought a change from 3.85 percent.
RTTNews | 6h 29min ago