Swiss Market Ends Marginally Down
(RTTNews) - The Switzerland market settled marginally down on Monday after staying weak right through the day's trading, as investors, back to trading after New Year holidays, refrained from picking up stocks despite data showing an increase in retail sales for a third straight month.
The benchmark SMI ended the session at 13,247.32, down 20.16 points or 0.15%. The index touched a low of 13,137.81 and a high of 13,247.36.
Nestle ended nearly 3% down. Logitech International closed lower by 2.5%, while Lindt & Spruengli and Swiss Re both ended lower by nearly 2.1%.
Givaudan, Galderma Group, Sandoz Group, Novartis and Roche Holding lost 0.8 to 1.25%.
VAT Group soared more than 12%. Julius Baer climbed 5.4% and Partners Group moved up 4.85%, while ABB and UBS Group gained 3.4% and 3.2%, respectively.
SGS, Amrize, Swiss Life Holding, Kuehne + Nagel and Helvetia Baloise Holdings ended higher by 1.2 to 2.5%. Straumann Holding, Schindler Ps, Sika, Swisscom, Sonova, Richemont and Holcim also closed on firm note.
Data from the Federal Statistical Office showed retail sales in Switzerland climbed 2.3% on a yearly basis in real terms, following October's stable growth of 2.2%. The rate of expansion was slower than the expected gain of 2.5%.
Excluding service stations, total retail sales were 2.4% higher compared to last year.
Sales in the non-food sector posted an accelerated growth of 6.2% versus 4.1% in October. Meanwhile, sales of food, drinks, and tobacco dropped further by 1.4%.
Month-on-month, retail sales edged up 0.1% in November after rising 0.2% in the prior month.
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