logo
Plus   Neg
Share
Email

Swiss Market Ends Marginally Down

The Switzerland stock market, which spent just a few minutes in positive territory on Tuesday, ended the session marginally down, with investors largely refraining from making significant moves.

Worries about coronavirus spread, global growth and trade tensions continued to weigh. Activity was mostly stock specific.

The benchmark SMI ended down 15.16 points or 0.15% at 10,045.30, after moving in a narrow range between 10,000.82 and 10,077.23.

Givaudan rose more than 2%. Swiss Life Holding, ABB, Swiss Re, Credit Suisse, Lonza Group and UBS gained 0.6 to 1%.

On the other hand, Novartis declined 1.1% and Roche Holding shed nearly 1%. Roche said that the U.S. FDA has approved a breast cancer treatment that can be administered at home by health care professional.

Sika, Adecco and Alcon ended modestly lower.

In the midcap section, Vifor Pharma drifted down 3.8%. AMS and Barry Callebaut lost 2.7% and 2.4%, respectively. Dorma Kaba Holding shed about 1.3% and Julius Baer lost 1%.

Temenos Group climbed up more than 5%. Dufry moved up nearly 4%, while Logitech, VAT Group, Helvetia, Lindt & Sp and Ps and Straumann Holding gained 1 to 2%.

In economic news, Switzerland's retail sales grew for the first time in three months in May as measures to contain the spread of coronavirus were relaxed, data from the Federal Statistical Office showed on Tuesday.

Retail sales rose a working-day adjusted 6.6% year-on-year in May, after an 18.8% fall in April.

Sales of food, drink and tobacco gained 20.1% yearly in May, while sales of non-food sector fell 1.7%. Other household equipment in the specialized stores grew 18.4%. Meanwhile, sales of other goods fell 20.2%. On a monthly basis, seasonally adjusted retail sales increased 30.7% in May, after a 13.7% fall in the prior month.

In nominal terms, retail sales advanced 5.6% annually in May and grew 30.2% from a month ago.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT