Swiss Market Ends Marginally Up After Choppy Ride
(RTTNews) - After a weak start, the Switzerland stock market struggled around mid morning on Tuesday, and despite emerging higher, faltered again by mid afternoon before managing to end the day's session on a slightly positive note.
The benchmark SMI ended with a small gain of 8.97 points or 0.09% at 10,391.16, after scaling a low of 10,352.12 and a high of 10,415.60 intraday.
On the economic front, preliminary data from the Federal Statistical Office showed retail sales in Switzerland fell for a third straight month in September, but the pace of decline slowed sharply.
Retail sales adjusted for inflation as well as sales days and holidays fell 0.6% year-on-year in September following a 2.2% decline in August and a 2.7% drop in July. Economists had forecast a 1.9% decrease.
Sales grew 0.8% from the previous month. On a month-on-month basis, food sales grew 0.2% and non-food sales rose 1.1%.
Sonova and Alcon, both gained about 2.7%. Richemont rallied 2.05%. Logitech, ABB and Lonza Group gained about 1.7% each.
Sika, Swiss Life Holding, Kuehne & Nagel, Swisscom and Givaudan gained 1.1 to 1.3%. Swiss Re ended nearly 1% up.
Roche Holding ended more than 3% down. UBS Group and Novartis edged down marginally.
In the Mid Price Index, Temenos Group, Straumann Holding and AMS gained 3 to 3.7%. SIG Combibloc rallied 2.4% and Schindler Ps climbed 2.1%.
Adecco, Ems Chemie Holding, Tecan Group, Schindler Holding, Clariant, Swiss Prime Site and Belimo Holding advanced 1.5 to 1.7%.
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