Swiss Market Ends Weak After Another Lackluster Session
(RTTNews) - After a weak start and a subsequent recovery that resulted in a very brief stay in positive territory, the Switzerland stock market languished in the red on Tuesday to eventually close modestly lower.
The mood was cautious with investors digesting earnings updates and geopolitical news, and looking ahead to U.S. inflation data, due on Wednesday.
The benchmark SMI, which touched a high of 11,177.37 and a low of 11,100.66 in the session, settled at 11,132.48, recording a loss of 33.84 points or 0.3%.
Logitech drifted down more than 5%. Sika ended 4.6% down, Partners Group closed lower by 3.6% and Credit Suisse ended with a loss of 3.39%.
Geberit and Richemont fell 2.95% and 2.79%, respectively. Givaudan, UBS Group and ABB shed 1.4 to 1.72%.
Novartis, Swisscom and Zurich Insurance Group gained 1.1 to 1.2%. Roche Holding and Swiss Re advanced 0.79% and 0.62%, respectively.
In the Mid Price Index, Zur Rose plunged nearly 14%. VAT Group ended 7.78% down and AMS drifted down nearly 7%. Georg Fischer, Straumann Holding, Temenos Group and Clariant lost 3 to 3.7%.
Dufry rallied more than 4% after the company said it posted a 146% rise in turnover to CHF 2.92 billion in the six months to June 2022. The company said it saw strong sales momentum continue in July despite the soaring inflation.
Flughafen Zurich, Baloise Holding, Helvetia and Swiss Prime Site gained 0.75 to 1.2%.
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