Swiss Market Fails To Hold Early Gains, Ends Weak

(RTTNews) - Despite spending much of the day's trading session in positive territory, the Switzerland market ended on a weak note on Tuesday as fears of a trade war rendered the mood a bit bearish.

In addition to following the developments on the trade front, investors also digested eurozone industrial production data, and U.S. consumer price inflation report.

The benchmark SMI ended down 38.57 points or 0.32% at 11,901.32, after scaling a low of 11,878.89 and a high of 11,979.69 intraday.

Alcon, Roche Holding, Nestle, Swisscom and Zurich Insurance lost 0.7 to 1.2%. Schindler Ps, Givaudan, Swiss Life Holding and Novartis closed modestly lower.

VAT Group rallied nearly 3%. Amrize climbed about 1.65%, ABB advanced 1.35% and Adecco gained 1.11%.

Sandoz Group, Logitech International, Straumann Holding, Richemont, Julius Baer and Lindt & Spruengli posted modest gains.

DocMorris shares gained about 2.7% after the company obtained an extension in product approval for its CardLink solution until January 2027 from gematik, Germany's national agency for digital medicine.

Eurozone industrial production recovered in May, underpinned by strong rebound in non-durable consumer goods output, data from Eurostat showed.

Industrial output grew at a faster-than-expected pace of 1.7% on a monthly basis in May, in contrast to the 2.2% decrease in April. Economists had forecast a 0.6% rise.

On a yearly basis, growth in industrial production accelerated to 3.7% from 0.2% in the previous month. Output was forecast to climb 2.9%.

Industrial production in the EU27 climbed 1.5% month-on-month in May and expanded 3.4% from the previous year.

The U.S. Labor Department said its consumer price index rose by 0.3% in June after inching up by 0.1% in May.

The annual rate of consumer price growth accelerated to 2.7% in June from 2.4% in July. Economists had expected the price of growth to rise to 2.6%.