Swiss Market Fails To Hold Early Gains, Settle Modestly Lower
(RTTNews) - The Switzerland market ended modestly lower on Wednesday despite spending much of the day's trading session in positive territory.
Although the market gained some ground in positive territory, reacting to news about U.S. and Chinese officials reaching a framework to implement the Geneva consensus following two days of discussions in London, the mood turned cautious later on in the session, as the Presidents of the two nations have to approve the plan.
US President Donald Trump posted on Truth Social that a trade deal between the US and China is "done" after the two sides reached an agreement in principle on a framework to ease trade tensions.
The benchmark SMI, which advanced to 12,398.08 around mid morning, settled at 12,315.81, the day's low, recording a loss of 36.08 points or 0.29%.
Sandoz Group ended down 1.8%. Nestle, Swatch Group, SIG Group, Partners Group and ABB closed lower by 0.8 to 1.1%.
Sika, Holcim, Novartis and Swiss Life Holding ended moderately lower.
Logitech International rallied more than 2.5%. Julius Baer and Adecco closed higher by 1.74% and 1.61%, respectively.
UBS Group, VAT Group, Alcon and Geberit gained 0.6 to 1.1%. Straumann Holding and Schindler Ps edged up marginally.
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