Swiss Market Ends Marginally Down
(RTTNews) - Despite spending much of the day's trading session, the Switzerland market ended slightly down on Friday following a setback in the final hour. Investors digested a report on Swiss consumer confidence, and assessed the economic situation in the U.S. in the wake of a somewhat weak non-farm payroll data.
The benchmark SMI, which climbed to 12,441.10, ended the session with a loss of 12.90 points or 0.1% at 12,370.57.
SGS gained nearly 4% and VAT Group climbed 3.4%. Richemont and Swatch Group gained 2.2% and 2.15%, respectively.
Geberit, Amrize and SIG Group moved up 1.4 to 1.7%. Schindler Ps, Alcon, Sonova, Sika, Givaudan, Holcim and Lindt & Spruengli also ended notably higher.
Adecco ended 4.7% down. Swiss Life Holding closed down by 1.7%. Swiss Re, UBS Group, Zurich Insurance, Nestle, Julius Baer and Roche Holding lost 0.5 to 1.2%.
In economic news, confidence among Swiss consumers remained more negative in August, survey results from the State Secretariat for Economic Affairs, or SECO, showed.
The consumer confidence index dropped to -40.0 from -33.0 in July. The expected score was -37.0. Moreover, the consumer sentiment index remained well below the long-term average.
The index was also worsened from -35.0 in the corresponding month last year.
Among the four components, the economic outlook index negatively contributed, while past financial situation, financial outlook, and moment to make major purchases were somewhat higher compared to last year.
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