Swiss Market Ends Modestly Higher Despite Early Struggle
(RTTNews) - Despite moving along the flat line till an hour past noon, the Switzerland market closed modestly higher on Monday on selective buying in a few frontline stocks.
The mood remained a bit cautious amid fresh tariff threats by the U.S. President Donald Trump. According to reports, Trump said he will impose new 25% tariffs on all steel and aluminum imports into the U.S.
The European Commission said it sees no justification for tariffs on exports from the European Union and will react to protect the bloc's interests from unjustified measures, noting that imposing tariffs would be "unlawful and economically counterproductive."
Meanwhile, the KOF Swiss Economic Institute's global economic barometers slightly improved in February, with the coincident barometer rising 0.9 points to 95.2 points and the leading barometer edging up 0.8 points to 103.3 points.
The benchmark SMI closed up 34.50 points or 0.27% at 12,627.84. The index, which edged down to a low of 12,587.04 at the start, touched a high of 12,640.23 in the session.
SGS climbed 2.31%. VAT Group gained 1.66% and Partners Group closed nearly 1.5% up. Swiss Life Holding, Kuehne + Nagel and Sandoz Group gained 1.1 to 1.2%.
Logitech International gained nearly 1%. ABB, Zurich Insurance Group, Schindler Ps, Roche Holding, Holcim and Richemont posted moderate gains.
Straumann Holding ended 1.03% down. Alcon, Swatch Group, Givaudan and Adecco closed lower by 0.5 to 0.7.5%. UBS Grup drifted down by about 0.4%.
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