Swiss Market Ends Moderately Lower
(RTTNews) - After staying slightly below the flat line till a little past mid-morning, the European market drifted down and eventually ended moderately lower on Wednesday.
The benchmark SMI, which dropped to a low of 14,068.50 ended the day at 14,114.00, losing 79.92 points or 0.56%.
Galderma Group ended 2.75% down. The delay in getting the U.S. FDA's nod for the company's Relfydess neuromodulator weighed on the stock.
Swisscom closed lower by 2.4%. Richemont and Sandoz Group settled lower by 2.06% and 1.91%, respectively.
ABB, Alcon, Novartis and Roche ended down by 1.2%-1.6%. Helvetia Baloise Holding and Geberit drifted down 0.96% and 0.7%, respectively.
Lonza Group closed 3.1% up. Partners Group, Kuehne + Nagel, Straumann Holding and Sonova gained 2%-2.3%.
Logitech International, Sika, Lindt & Spruengli, Givaudan, Swiss Re and UBS Group closed up by 0.5%-1.5%.
Data from the statistical office showed Swiss retail sales increased at the quickest pace in nearly a year in May. In real terms, retail sales climbed 3.5% yearly in May, faster than the revised 1.7% growth in April.
The annual sales growth in non-food products improved to 4% from 2.3%, and that in food products quickened to 2.6% from 0.5%.
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