Swiss Market Ends On Weak Note
(RTTNews) - The Switzerland stock market closed notably lower on Monday, in line with most of the markets across Europe, as Middle East tensions and U.S. President Donald Trump's fresh tariff threats rendered the mood a bit bearish.
Switzerland's benchmark index SMI, which stayed slightly positive early on in the session, slipped below the flat line soon and remained weak right till the end to settle with a loss of 132.94 points or 1.01% at 13,003.33.
Amrize and Kuehne + Nagel ended down by about 5.9%. Helvetia Baloise Holding and Holcim lost 2.7% and 2.3%, respectively.
Novartis ended lower by 1.78% and Richemont lost 1.6%. Geberit, Swiss Life Holding, Nestle, Lindt & Spruengli, Sika, Givaudan, UBS Group, Schindler Ps and Zurich Insurance Group closed lower by 0.6%-1.3%.
Logitech International climbed up 2.71% and Partners Group gained 2.52%, while Sonova moved up 1.52%. Sandoz Group gained 0.51%.
In economic news, Switzerland's procure.ch-UBS Manufacturing PMI rose to 54.5 in April, from 53.3 in the previous month and exceeding market expectations of 52. It marked the second consecutive month in expansionary territory and the strongest reading since October 2022.
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