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Swiss Market Falters After Recovering From Weak Start, Ends Modestly Lower
(RTTNews) - After a weak start and a subsequent recovery that resulted in a brief spell in positive territory Tuesday morning, the Switzerland market turned weak and eventually ended the day's session on a negative note.
The benchmark SMI ended with a loss of 21.91 points or 0.2% at 11,068.70. The index, which dropped to 11,036.45 at the start, advanced to 11,121.67 before turning weak.
Richemont ended 1.79% down. Sonova, Geberit, ABB and Alcon lost 1.1 to 1.4%.
Kuehne & Nagel, Sika, Givaudan and Roche Holding also ended weak.
Partners Group climbed about 2.1%. Lonza Group lost 1.37%, while Swiss Life Holding and Swiss Re both shed about 1.1%.
Among the stocks in the Mid Price Index, SGS ended 3.4% down and Straumann Holding lost 2.17%.
Belimo Holding, Tecan Group, VAT Group, Georg Fischer, Bachem Holding and Swatch Group ended lower by 1 to 2%.
AMS rallied nearly 5.5%. Meyer Burger Tech gained 1.65%, while Barry Callebaut and BKW both ended down 1.3%.
In economic news, Switzerland's foreign trade surplus increased in August as exports rose faster than imports, data from the Federal Customs Administration showed on Tuesday.
The trade surplus rose to CHF 3.21 billion in August from CHF 2.55 billion in the previous month. In real terms, exports rebounded 5.9% monthly in August versus a 4.9% decline in July. Similarly, imports logged a 1.5% gain in August, in contrast to a 1.8% gain in July.
In nominal terms, exports and imports grew by 3.8% and 6.6%, respectively.
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