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Swiss Market Ends Lower On Weak Data
(RTTNews) - The Switzerland stock market ended on a weak note on Tuesday, hurt by disappointing consumer confidence data.
Survey results from the State Secretariat for Economic Affairs, or SECO, showed Swiss consumer confidence weakened to the lowest level since the survey began in 1972.
The report said the consumer confidence index fell more-than-expected to -46.6 in the fourth quarter from -41.7 in the preceding period. Economists had expected the reading to come in at -43.0.
The benchmark SMI, which fell into negative territory around mid afternoon after staying positive till then, ended the session with a loss of 44.28 points or 0.41% at 10,783.65. The index, which climbed to 10,926.54 in early trades, dropped to a low of 10,755.33 later in the day.
Lonza Group shares dropped more than 5%. Givaudan ended 1.6% down, while Geberit, Swisscom, Sika and Roche Holding lost 0.9 to 1.1%.
Sonova, Nestle and Zurich Insurance Group also closed weak.
Credit Suisse climbed about 1.7% after the Swiss lender confirmed an extraordinary general meeting will take place on November 23 to approve a proposed capital increase.
Richemont rallied nearly 3.25%. UBS Group, Logitech, ABB and Swiss Re gained 0.4 to 0.6%.
In the Mid Price Index, Bachem Holding ended lower by nearly 4%. Tecan Group drifted down nearly 3%. Ems Chemie Holding, Barry Callebaut, Clariant and Temenos Group lost 1.6 to 2%.
Zur Rose surged 3.77%, Swatch Group advanced 3.15%, and AMS gained about 2.5%.
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