Swiss Market Ends Marginally Up
(RTTNews) - After a weak start and a subsequent recovery Tuesday morning, the Swiss stock market moved along the flat line till the end of the day's session, as investors assessed the situation in the Middle East and its impact on global economic growth.
The benchmark SMI, which dropped to 13,101.33 in early trades, climbed to a high of 13,140.01 around mid-afternoon before settling at 13,119.53, gaining 18.20 points or 0.14%.
Logitech International fell 5.26%. Swiss Re and VAT Group ended down by 3.46% and 3.39%, respectively. ABB closed lower by 2.87% and Sika drifted down 1.79%.
Zurich Insurance Group, Geberit, Lonza Group, Julius Baer, Galderma Group and Amrize lost 0.5%-1%.
Lindt & Spruengli climbed nearly 3.5% and Alcon ended 2.89% up. Novartis moved up nearly 2%. Nestle, Sandoz Group and Sonova ended higher by 1.6%, 1.4% and 1.25%, respectively.
Roche, Kuehne + Nagel, Swisscom and Givaudan posted modest gains.
Data from the Federal Statistical Office showed Switzerland's producer and import prices index posted a monthly increase of 0.8% in April, following a 0.2% increase in March. Prices were expected to rise the same by 0.2%. The rise in April was mainly driven by higher costs for petroleum products as well as petroleum and natural gas.
The producer price index rose 0.2% compared to March, and import prices were 2.3% higher.
On a yearly basis, producer and import prices dropped 2% after falling 2.7% a month ago.
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