Swiss Market Ends Marginally Up After Choppy Ride
(RTTNews) - The market started off on a positive note on Friday but slipped into the red around mid morning and then struggled for direction till the end with stocks swinging between gains and losses amid cautious moves by investors.
The benchmark SMI settled with a small gain of 10.91 points or 0.09% at 12,568.18 after moving in a tight range between 12,532.82 and 12,597.98.
Amrize climbed 3.79% after JP Morgan raised the stock's rating to "overweight." and raised its price target to CHF 48.2.
Holcim and VAT Group gained about 2.7%. Lonza Group ended 2.2% up.
Partners Group and Galderma Group ended higher by about 1.9% and 1.7%, respectively. Sandoz Group, Swiss Re, ABB, SGS, Julius Baer an Logitech International also ended notably higher.
Schindler Ps tumbled more than 4%. The Swiss company now expects an operating profit margin of around 12.5% for the full year, after previously seeing it at around 12%. Schindler booked new orders worth 2.64 billion Swiss francs in the quarter, down from 2.71 billion francs a year earlier
Swatch Group ended 1.27% down. Richemont lost nearly 1%, while Nestle, Geberit, Sika and Novartis closed lower by 0.4 to 0.7%.
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