Swiss Market Ends On Upbeat Note

RTTNews | 57 gün önce

(RTTNews) - Swiss stocks closed on an upbeat note on Monday with investors reacting to an announcement from the White House that tariffs on imports of Chinese-made smartphones and some other electronics devices would not apply.

However, the rollback may end up being short-lived as President Donald Trump said these goods were simply being moved into a different tariff group or "bucket".

The benchmark SMI settled with a strong gain of 259.63 points or 2.31% at 11,499.46. The index touched a high of 11,552.98.

Logitech International climbed 6.6%. VAT Group, Partners Group, Roche Holding, Adecco and Novartis gained 3 to 3.5%.

Sandoz Group shares climbed nearly 3.5% after the company filed an antitrust lawsuit in the US against biotechnology company Amgen, accusing the latter of blocking competition from cost-effective biosimilar competitors for its Enbrel drug, including the Swiss pharmaceutical company's Erelzi, by using patent rights

UBS Group gained nearly 3%. SIG Group, Swiss Re and ABB climbed about 2.8%. Holcim, Kuehne + Nagel, Alcon and Sika closed higher by 2.4 to 2.6%.

Zurich Insurance, Straumann Holding, Swatch Group, Geberit, Swiss Life Holding, Lindt & Spruengli, Sonova, Schindler Ps, Lonza Group, Swisscom and Nestle also posted strong gains.

Clariant surged 3.75% on reports the specialty chemicals group is in talks with investment banks to explore strategies that could better align its valuation with business performance.

In economic news, Switzerland's producer and import prices continued to decline in March, though slightly, data from the Federal Statistical Office showed.

Producer and import prices dropped 0.1% year-on-year in March, the same pace as in the previous month. The price index has been falling since May 2023.

The producer price index showed an increase of 0.3%, while import prices dropped by 0.9%.

On a monthly basis, producer and import prices rose 0.1% in March after rising 0.3% in the prior month. The expected increase was 0.2%.

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 22 dakika önce

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 1s 29 dakika önce

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 2s 5 dakika önce

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | 5s 0 dakika önce