Swiss Market Ends Modestly Lower
(RTTNews) - After a flat start, the Switzerland stock market edged down on Monday morning, and despite very nearly making it to positive territory around mid-morning, turned weak again and eventually ended the day's session modestly lower.
The mood was cautious amid a lack of economic data from the European region. Investors looked ahead to earnings and economic updates from the U.S. for direction.
The benchmark SMI ended with a loss of 31.10 points or 0.27% at 11,311.76.
Credit Suisse tumbled 4.44%. Swiss Re, UBS Group and Partners Group lost 3.88%, 3.8% and 3.39%, respectively.
Richemont drifted down by about 2.25%, while Swiss Life Holding and Alcon lost 1.67% and 1.46%, respectively. Zurich Insurance Group ended lower by 1.23%.
Logitech climbed 1.53% and Holcim surged 1%. Geberit and Novartis both gained about 0.75%, while Lonza Group, Sonova, Nestle, ABB and Swisscom gained 0.5 to 0.6%.
In the Mid Price Index, Julius Baer lost more than 5.5%. Helvetia drifted down 3.1%, while Baloise Holding and VAT Group closed lower by 1.82% and 1.35%, respectively.
Kuehne & Nagel and Belimo Holding both gained more than 3%. Georg Fischer, Galenica Sante, Swiss Prime Site, Clariant, Barry Callebaut, Adecco and Schindler Holding advanced 1 to 2%.
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