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Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland market ended notably lower on Friday, after languishing in negative territory right through the day's trading session, as investors chose to take some profits after recent strong gains.
The mood was cautious amid concerns over U.S. President Donald Trump's proposed reciprocal trade policy on countries that impose tax on U.S. imports.
The benchmark SMI closed down 109.19 points or 0.84% at 12,839.87.
Novartis ended nearly 2.5% down. Swisscom and Swatch Group closed lower by 2% and 1.87%, respectively. Nestle closed nearly 1.5% down.
Kuehne + Nagel, Roche Holding, Zurich Insurance Group, Swiss Re, Alcon, Sandoz Group and SGS ended down 0.7 to 1.1%.
Givaudan climbed nearly 3%. Logitech International and Lindt & Spruengli both gained a little over 2%. SIG Group and Partners Group gained 1.2% and 1.1%, respectively.
Sika, Julius Baer and Holcim posted modest gains, while VAT Group edged up marginally.
In economic news, data from the Federal Statistical Office showed Switzerland's producer and import prices declined at a slower pace in January 2025, dropping by 0.3% year-on-year, following a 0.9% decrease in December 2024.
Further, this was the slowest rate of decline since the current sequence of fall began in May 2023, when prices had fallen the same 0.3%.
The producer price index showed a flat change in January, while import prices registered a decrease of 0.8%. On a monthly basis, producer and import prices edged up 0.1% in January, as expected, after staying stagnant in December.
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