Swiss Market Ends Weak
(RTTNews) - The Switzerland stock market opened slightly higher on Tuesday, but swiftly dropped into negative territory and stayed weak right through the day's session to finally close modestly lower.
The benchmark SMI ended with a loss of 41.10 points or 0.37% at 11,130.44, about 45 points off the session's low of 11,085.13. The index advanced to 11,185.92 in early trades.
Givaudan and Richemont drifted down 2.4% and 2.3%, respectively. Lonza Group ended nearly 2% down, while Sika, Geberit and Partners Group lost 1.4 to 1.7%.
Swisscom gained nearly 1%. Holcim, ABB and Novartis advanced 0.6 to 0.8%.
In the Swiss Mid Price Index, shares of hearing aid maaker Sonova plummeted nearly 16% after the company lowered its full-year earnings forecast, citing a subdued market and ongoing input cost challenges.
Straumann Holding tumbled 8.25%. Bachem Holding ended 4.49% down, while Ems Chemie Holding, Zur Rose and Tecan Group ended lower by 2.8 to 3.1%.
BB Biotech, Adecco, Flughafen Zurich, AMS, Clariant and Cembra Money Bank gained 0.5 to 1.2%.
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