logo
  

Swiss Market Closes Marginally Higher

The Switzerland stock market ended on a positive note on Tuesday, after moving in a tight range modestly above the flat line.

Unlike most of the European markets, the Swiss market ended just marginally up as buying interest was somewhat subdued with investors reacting to the data showing a drop in exports.

The benchmark SMI ended with a gain of 22.75 points or 0.19% at 11,789.17, after moving between 11,765.44 and 11,845.88.

Partners Group climbed 3.15%. Sika ended 1.82% up, while Lonza Group, Givaudan and Geberit gained 1 to 1.2%.

Alcon, Nestle, SGS, Swiss Re and Swiss Life Holding gained 0.5 to 0.8%.

Holcim declined 1.63%, Swatch Group shed 1.54% and UBS Group ended lower by 1.25%. Credit Suisse, Richemont and Roche Holding lost 0.6 to 0.8%.

In the Mid Price Index, Dufry, Sonova and Flughafen Zurich gained 2.2 to 2.7%. VAT Group and Straumann Holding both ended higher by 1.8%.

Swiss Prime Site, PSP Swiss Property, SIG Combibloc, Galenica Sante, Kuehne & Nagel, Vifor Pharma and Temenos Group also closed notably higher.

Zur Rose shares plunged more than 7%. Lindt & Spruengli, Cembra Money Bank, Swatch Group and OC Oerlikon Corp lost 1 to 1.7%.

Data from the Federal Customs Administration showed, Switzerland's exports decreased by a real 0.4% month-on-month in August, after a 1.1% growth in July. Imports grew 0.2% monthly in August, following a 1% increase in the previous month.

Exports of jewelry and watchmaking decreased in August and imports of energy products, and textiles, clothing and footwear rose.

In nominal terms, exports grew 2.1% in August and imports gained 1.2%. The trade surplus increased to CHF 4.465 billion in August from CHF 4.242 billion in July.

According to the Federation of the Swiss Watch Industry, watch exports fell 0.4% year-on-year in August.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT