Swiss Market Ends Flat After Choppy Session
(RTTNews) - The Switzerland market settled marginally up on Monday after struggling for direction right through the trading day.
Worries about geopolitical tensions and concerns over the independence of U.S. central bank weighed on sentiment.
The benchmark SMI ended up by 3.26 points or 0.02% at 13,425.08, after touching a low of 13,371.19 and a high of 13,433.19 intraday.
Amrize climbed 2.61% and Lonza Group gained 2.2%. Partners Group ended 1.56% up, while Alcon and Lindt & Spruengli moved up by 1.13% and 1.06%, respectively.
Kuehne + Nagel advanced by nearly 1%. ABB, Straumann Holding, Roche Holding and Sonova posted moderate gains.
Helvetia Baloise Holdings, VAT Group, Sandoz Group, Swiss Re, Galderma Group, Holcim, Richemont, Swiss Life Holding and Nestle lost 0.5 to 1.33%.
On the economic front, survey results from the State Secretariat for Economic Affairs, or SECO, showed confidence among Swiss consumers remained less negative at the end of the year.
The consumer confidence index rose to -31 in December from -34 in November. The expected score was -33.0. In the corresponding month last year, the reading was also -31.0.
Among the four components, the indexes for past financial situation and timing of major purchases improved compared to last year, while the sub-indices for economic development outlook and expected financial situation were weakened.
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