Swiss Market Ends Marginally Down Again
(RTTNews) - The Switzerland market ended slightly down on Tuesday after stocks swung between gains and losses amid alternate bouts of buying and selling right through the day's session.
Investors largely made their moves, tracking quarterly earnings updates.
The benchmark SMI, which moved in a very tight range, ended with a loss of 5.72 points or 0.05% at 10,571.03. The index touched a low of 10,567.45 and a high of 10,617.44.
Sonova ended 1.82% down. Swisscom settled lower by 0.89%. Richemont, Geberit, Swiss Life Holding and Zurich Insurance Group lost 0.4 to 0.6%.
UBS Group gained 1.83% after reporting stronger-than-expected client inflows and progress in meeting cost-saving goal.
Logitech International climbed 2.06%. Sika, Givaudan and Partners Group gained 0.5 to 0.62%.
In the Mid Price Index, Dufry, AMS, Julius Baer and VAT Group lost 2.2 to 2.8%. Meyer Burger Tech, Adecco and Clariant declined 1.4 to 1.7%, while Helvetia ended lower by 0.81%.
Shares of Watches of Switzerland Group soared 12.5% after the luxury watch retailer reported higher revenues in its second quarter and said it expects to more than double sales and profits by fiscal 2028.
Georg Fischer, Temenos Group and SIG Combibloc gained 1.3 to 1.5%, Schindler Ps advanced 1.1%, while Schindler Holding, Belimo Holding, Swatch Group and Flughafen Zurich posted moderate gains.
In economic news, data from State Secretariat for Economic Affairs showed the Swiss unemployment rate stood at a non-seasonally adjusted 2% in October, the same as in the previous month.
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