Swiss Market Closes Modestly Higher

(RTTNews) - Despite spending much of the day's trading session in negative territory, the Swiss market closed modestly higher on Tuesday thanks to some brisk buying at a few counters in late afternoon trades.

The benchmark SMI closed up 39.01 points or 0.33% at 11,740.52 after scaling a low of 11,622.55 and a high of 11,744.28 intraday.

VAT Group closed up 2.21%. Richemont gained 1.4%. Sonova and Logitech gained 1.29% and 1.22%, respectively. Nestle advanced 1.02%.

Alcon, Novartis, Givaudan, Stramann Holding and Roche Holding gained 0.5 to 0.9%. Lindt & Spruengli, Swatch Group, Swiss Life Holding and Swisscom posted modest gains.

Kuehne + Nagel ended down 1.65%. Julius Baer, Lonza Group, Adecco, Geberit, Swiss Re, UBS Group, Sandoz Group, Holcim and Partners Group closed down 0.6 to 0.9%.

Data from the State Secretariat for Economic Affairs, or SECO, said the Switzerland's economy is expected to grow slightly less than previously estimated in the next year amid high uncertainty surrounding international economic and trade policy.

The expert group of the federal government forecast gross domestic product to grow 1.5% in 2025 instead of the 1.6% growth estimated previously in September. Domestic demand is likely to prove to be the primary growth driver.

The Swiss economy is to grow 0.9% in the current year, compared to a 1.2% growth in the September forecast.

During 2025, the Expert Group on Business Cycles expects weaker development in the German and other European economies than previously estimated.

In 2026, the rest of Europe, in particular, should gradually recover from the current economic downturn, and this should also help boost Swiss exports and investments. The expert group forecast a 1.7% expansion with an average inflation rate of 0.7%.