Swiss Market Ends On Weak Note
(RTTNews) - The Switzerland stock market ended modestly lower on Friday after languishing in negative territory throughout the trading session, as traders seemed reluctant to build up fresh positions amid a lack of positive news.
The benchmark SMI ended down 43.31 points or 0.29% at 15,106.12 after moving between 15,037.34 or 15,130.68.
Richemont dropped 3.8% despite reporting higher earnings. The company's bottom line totaled EUR2.528 billion, or EUR4.29 per share. This compares with EUR1.813 billion, or EUR3.08 per share, last year. Revenue for the period rose 15.7% to EUR12.282 billion from EUR10.619 billion last year.
Sandoz Group and VAT Group ended down by 2.65% and 2.45%, respectively.
Galderma Group settled lower by 1.54%, while Sika, Holcim, Julius Baer, UBS Group, ABB, Partners Group, Amrize and Roche lost 0.4%-1%.
Sonova climbed nearly 3%. Alcon gained 1.8% and Nestle moved up 1.33%, while Lindt & Spruengli, Swisscom, Swiss Life Holding, Zurich Insurance, Helvetia Baloise Holding, Swiss RE and Schindler Ps gained 0.45%-1.1%.
In economic news, data from Swiss Federal Statistical Office showed Switzerland's producer and import prices rose by 0.9% year-on-year in October, marking the first increase since April 2023 and rebounding from a 0.2% decline in the previous month.
On a monthly basis, the combined index rose by 0.9%, sharply exceeding forecasts of 0.2% and accelerating from a 0.3% gain in September, as import prices jumped 1.7% and producer prices increased 0.5%.
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