Swiss Market Ends Moderately Lower

(RTTNews) - Swiss stocks turned in a weak performance on Tuesday, as investors reacted to some earnings updates and looked ahead to the Federal Reserve's monetary policy announcement, due tomorrow.

The benchmark SMI, which briefly moved into positive territory in early trades, ended the session with a loss of 71.45 points or 0.63% at 11,260.91, the day's low.

Straumann Holding tanked 11.4%. UBS Group drifted down 3.3%, SIG Group ended down by 2.75%, Lonza Group closed lower by 2.3% and Holcim ended 2.2% down.

Swatch Group, SGS, Richemont, Sonova, Geberit and Alcon lost 1 to 1.7%.

Lindt Spruengli rallied 4.12%. Sandoz gained 1.6%. Schindler Ps, Novartis, Givaudan and Nestle ended slightly higher.

Logitech soared 7.8% after posting better-than-expected fourth-quarter results.

Meyer Burger Tech tanked 14.8%. Baloise Holding ended down 4.8%. Flughafen Zurich, Swatch Group and PSP Swiss Property also ended notably lower.

Barry Callebaut surged more than 7%. Clariant and Temenos Group gained 2.7% and 1.6%, respectively.

On the economic front, Switzerland's leading KOF economic barometer rose to 101.8 in April 2024 from a downwardly revised 100.4 in March, coming below forecasts of 102.1.