Swiss Market Ends Moderately Lower
(RTTNews) - The Switzerland stock market ended weak on Tuesday as worries about geopolitical tensions, rising bond yields and elevated oil prices rendered the mood cautious.
The benchmark SMI, which scaled a low of 13,680.95 and a high of 13,829.78 intraday, ended the session at 13,808.87, down 69.67 points or 0.5% from previous close.
Bank stock UBS Group and Julius Baer dropped 3.4% and 2.3%, respectively, contributing significantly to market's weakness.
Partners Group ended 2.56% down. The group has become the largest outside shareholder in SEG and is reportedly planning to more than double its initial equity investment to fund acquisitions and expansion across sports and adjacent services.
Richemont, Nestle, Galderma Group and Amrize shed 1.25%-1.9%. Holcim, Sandoz Group, Sonova and Sika also closed weak.
Swisscom ended more than 2% up. ABB climbed about 1.65%, while Zurich Insurance and Swiss Re gained about 1.5% over their previous closing levels.
Kuehne + Nagel, Straumann Holding, Logitech International, Lonza Group and Lindt & Spruengli posted modest gains.
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