Swiss Market Ends Moderately Lower
(RTTNews) - Despite a decent spell in positive territory till about an hour before noon, the Switzerland market turned weak and kept drifting lower as the session progressed on Thursday to eventually settle with a moderate loss.
The benchmark SMI, which climbed to 11,983.61, dropped to a low of 11,823.21 and finally settled at 11,836.00, recording a loss of 95.98 points or 0.8%.
Straumann Holding tumbled more than 7%. Amrize ended 3.05% down. Richemont and SIG Group closed lower by about 2.6% and 2.4%, respectively. Sika, Sandoz Group, VAT Group and Partners Group lost 2 to 2.2%.
UBS Group and Alcon drifted down 1.68% and 1.54%, respectively. Givaudan, Julius Baer, Kuehne + Nagel, Novartis, Sonova and Adecco lost 0.7 to 1%.
Logitech International climbed about 1.7%. Lindt & Spruengli, Zurich Insurance, Swiss Re, Holcim and Swiss Life Holding gained 0.3 to 0.5%.
In economic news, data from the Federal Statistical Office showed Swiss retail sales growth accelerated for the first time in six months in June, climbing up 3.8% year-on-year, much faster than the 0.3% rise in May. The expected increase was only 0.2%.
Monthly, retail sales rose 1.5% in June after falling 0.4% in May. Moreover, this was the first increase in five months.
In nominal terms, retail turnover climbed 3.3% from last year.
Bay Street Likely To Open Slightly Higher, But Weak Metal Prices Could Weigh
FTSE 100 Up Marginally As Investors Look For Direction
CAC 40 Drifts Lower In Lackluster Trade
Sensex Jumps 746 Points As Focus Shifts To Trump-Putin Talks; Nifty Ends At 24,585
DAX Modestly Lower In Cautious Trade; Defense Stocks Drift Lower
UK Job Placements Decline Sharply On Weaker Confidence & Budget Pressures
European Shares Mostly Lower As Defense Stocks Fall Ahead Of Trump-Putin Talks
