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Swiss Market Ends Slightly Up
(RTTNews) - Despite spending much of the day's session in positive territory, the Switzerland market closed just marginally up on Monday, as stocks pared gains past noon and even fell into negative territory in the final hour.
Investors digested Swiss employment data, and the results of German general election.
According to a report from Swiss Federal Statistical Office, Switzerland's non-farm payrolls increased by 0.9% year-on-year to a fresh record high of 5.534 million in the fourth quarter of 2024, following a 1.2% gain in the previous three-month period.
In the German federal election, the Christian Democratic Union of Germany (CDU), led by Friedrich Merz, emerged victorious.
The CDU is reportedly negotiating to form a coalition government with Social Democratic Party (SPD), which could lead to pro-growth policies and reforms.
The benchmark SMI ended with a small gain of 4.57 points or 0.04% at 12,953.17. The index, which climbed to 13,016.64, dropped to a low of 12,899.81 in late afternoon trade.
Nestle gained 3.15%. Swatch Group climbed 2.74% and Givaudan ended nearly 2% up. Kuehne + Nagel, Lindt & Spruengli and Zurich Insurance Group ended higher by 1.45%, 1.35% and 1.07%, respectively.
Adecco, Swisscom, Swiss Life Holding and SIG Group gained 0.5 to 0.9%.
ABB ended down 4.7% and Straumann Holding lost 4.29%. Partners Group closed lower by 3.83%, while VAT Group and Sika ended down 2.29% and 2.27%, respectively.
Holcim, Richemont, Schindler Ps, Alcon, UBS Group and Geberit also ended notably lower.
Shares of Belimo Holding tumbled nearly 8% on weak sales guidance.
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