Swiss Market Ends Moderately Lower
(RTTNews) - The Switzerland market ended weak on Tuesday, in line with markets across Europe, with investors awaiting some key economic data from the U.S. for more clues about the outlook for Federal Reserve's interest rate moves.
The benchmark SMI ended with a loss of 70.98 points or 0.58% at 12,086.31. The index touched a low of 12,054.76.
UBS Group drifted down by about 3.2%. The lender has agreed to sell a 36.01% stake in Credit Suisse's money-losing Chinese venture to Beijing-backed Assets Management Co. for $91.4 million, in a deal valuing the venture at $253 million.
Schindler Ps ended down 3.85%. Lindt & Spruengli, Partners Group and Geberit lost 1.74%, 1.62% and 1.28%, respectively.
ABB, Alcon, Nestle, Roche Holding, Lonza Group, Swatch Group, Logitech International, Holcim, Sonova and Swiss Re ended lower by 0.5 to 1%.
Richemont climbed about 2.75%. Bernard Arnault, Europe's richest man and the chairman of high fashion to champagne group LVMH MC, has reportedly bought a stake in Richemont.
Straumann Holding and SIG Group both advanced nearly 1%. Santoz Group and SGS posted modest gains.
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