Swiss Market Ends On Firm Note
(RTTNews) - The Switzerland market closed on a firm note on Tuesday after staying positive right through the day's session, in line with most of the other markets in Europe. In addition to assessing the latest developments on the trade front, investors looked ahead to the Federal Reserve's monetary policy announcement, due on Wednesday.
European markets closed up with investors reacting positively to the EU-India trade deal, and some corporate updates.
U.S. President Donald Trump, who threatened 100% tariffs on Canadian goods if Canada strikes a trade deal with China, has announced he would raise tariffs on South Korean imports to 25% because of a delay in the South Korean Legislature approving a trade deal with the U.S.
The European Union and India agreed a free trade deal Tuesday, the largest such deal ever clinched by either side, as they contend with an erratic trade policy from key trading partner the United States.
"We did it, we delivered the mother of all deals," Ursula von der Leyen, president of the European Commission, the EU's executive, told reporters in New Delhi.
The benchmark SMI, which moved in a tight range between 13,172.97 and 13,230.95, settled with a gain of 74.21 points or 0.56% at 13,216.23.
Swisscom rallied nearly 4%. VAT Group climbed 2.35% and Sandoz Group closed up by 2.04%. ABB, Holcim and Julius Baer ended higher by 1.6 to 1.75%.
Nestle, Lonza Group, Helvetia Baloise Holding and UBS Group gained 1 to 1.2%. Kuehne + Nagel, Swiss Life Holding and SGS ended with moderate gains.
Sonova slid nearly 3%. Amrize shed 2.4%, while Logitech International, Alcon, Galderma Group and Givaudan lost 0.9 to 1%.
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