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 closed on a weak note on Tuesday due to a sell-off at a few counters in the final hour.
The benchmark SMI, which advanced to 14,287.62 around mid-afternoon, ended with a loss of 29.98 points or 0.21% at 14,193.32, about 40 points off the day's low of 14,153.97.
VAT Group gained about 3.2%. ABB moved up 2.5% and Sika climbed 2.05%, while Partners Group ended 1.88% up.
Lonza Group gained 1.15%. The contract development and manufacturing organization has announced plans to enhance its drug-linker center of excellence and expand payload-linker manufacturing capacity at its Visp site.
Zurich Insurance, Julius Baer and Holcim gained 0.9%-1.15%. Sonova and Kuehne + Nagel also closed notably higher.
Logitech International ended nearly 5% down. Roche, Richemont, Nestle and Swisscom lost 1.4%-1.8%. Lindt & Spruengli and Galderma Group finished lower by 1.21% and 1.02%, respectively.
In economic news, a measure signaling future turning points in the Swiss economy improved to the strongest level in four months, results of a survey by the KOF Swiss Economic Institute showed.
The economic barometer rose to 101.2 in June from a revised 98.6 in May. Moreover, it remained above the medium-term average of 100. The expected score was 98.2.
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