Swiss Market Ends Marginally Up
(RTTNews) - The Switzerland market closed marginally up on Monday after a choppy session as investors stayed a bit reluctant to make significant moves. Data showing an increase in Swiss retail sales aided sentiment a bit.
The benchmark SMI, which moved between 12,804.37 and 12,878.38, settled with a gain of 16.77 points or 0.13% at 12,850.73.
VAT Group, the top gainer, moved up 3.2%. Richemont and Swatch Group closed nearly 2% up, while Sonova and Straumann Holding gained 1.65% and 1.53%, respectively.
Lonza Group, Schindler Ps, Kuehne + Nagel, Logitech International, Amrize and Roche Holding moved up 0.5 to 1%.
SGS closed down by 2.34%. Galderma Group and Partners Group lost 1.19% and 1%, respectively. Swiss Life Holding, ABB, Lindt & Spruengli, Sika and Swisscom also ended weak.
In economic news, data released by the Federal Statistical Office showed retail sales in Switzerland advanced 2.7% year-on-year in October, surpassing market estimates of a 1.2% gain and following an upwardly revised 1.8% increase in the previous month.
On a seasonally adjusted monthly basis, retail trade rose 0.7% in October, following a downwardly revised 0.5% growth in the prior period. Excluding fuel, retail sales increased by 3% year-on-year in October from 2.3% in September.
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