Swiss Market Ends Marginally Down
(RTTNews) - The Switzerland stock market bucked the weak trend seen across Europe for much of the day's trading session on Tuesday, but fell in the closing minutes to settle marginally down.
The benchmark SMI, which climbed to 11,514.17, ended the session at 11,423.33, posting a loss of 13.81 points or 0.12%.
Credit Suisse fell about 2.5%. Partners Group, Swiss Life Holding and UBS Group lost 2 to 2.2%.
Zurich Insurance Group, Geberit, Swiss Re, Sonova and Sika ended lower by 1 to 1.6%. Alcon drifted down 0.89%.
Logitech surged more than 7%. Novartis ended higher by 1.2%.
In the Mid Price index, AMS plunged 8.4%. Zur Rose ended lower by 3.2%, while Ems Chemie Holding, Helvetia, Baloise Holding, Swiss Prime Site, Julius Baer and PSP Swiss Property lost 1.7 to 2.2%.
Temenos Group gained 1.7%. Kuehne & Nagel, SGS, Barry Callebaut and Lindt & Spruengli posted modest gains.
In economic news, data from the State Secretariat for Economic Affairs showed the consumer confidence indicator in Switzerland came in at -29.7 in the second quarter of 2023, little changed from the -30.1 reading in the previous quarter and far below its long-term average.
A report from procure.ch & Credit Suisse said the Swiss procure.ch and Credit Suisse Manufacturing PMI fell for a fourth consecutive month to 45.3 in April of 2023 from 47 in March.
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