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Swiss Market Ends Modestly Lower
(RTTNews) - The Switzerland market ended weak on Monday after languishing in negative territory almost right through the day's session as geopolitical tensions and tariff concerns weighed on sentiment.
The benchmark SMI closed down 28.90 points or 0.24% at 12,198.18. The index touched a low of 12,132.19 in the session.
Partners Group drifted down 2.3%. Adecco, Logitech International, Sika, Alcon, Sonova, Straumann Holding and Richemont lost 1 to 1.7%.
SIG Group, ABB, Nestle, VAT Group, Kuehne + Nagel, SGS and Swatch Group also closed weak.
Novartis climbed 1.12%. Geberit, Givaudan and Swiss Re also closed higher.
On the economic front, data from the State Secretariat for Economic Affairs, or SECO, showed Switzerland's gross domestic product expanded by an adjusted 0.8% sequentially after rising 0.6% in the fourth quarter of 2024, thanks to a notable rebound in exports to the US ahead of expected tariff hikes.
On a yearly basis, economic growth improved to 2.2% from 1.3% a quarter ago.
On the expenditure-side, private consumption rose at a slower pace of 0.2% after a 0.5% gain. Likewise, the increase in government spending slowed to 0.4% from 0.6%.
On an unadjusted basis, GDP expanded 0.5% quarterly and 2% on a yearly basis in the first quarter.
Earlier, the SECO projected the economy to grow 1.4% this year, followed by 1.6% expansion in 2026.
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