Swiss Market Pares Early Gains, Ends Slightly Weak
(RTTNews) - Despite spending much of the day's trading in positive territory, the Switzerland stock market ended modestly lower on Thursday due to selling at a few counters in the final hour.
In addition to digesting corporate earnings updates, investors also followed the developments on the geopolitical front.
The benchmark SMI, which advanced to 14,646.26 in early trades, ended the day with a loss of 32.81 points or 0.23% at 14,518.75.
Zurich Insurance ended down by 3%. Straumann Holding and Sika closed lower by 2.7% and 2.1%, respectively. Amrize eased by about 1.7%.
SGS lost about 1%. UBS Group, Kuehne + Nagel, Alcon, Givaudan and Richemont lost 0.4%-0.7%.
Swisscom climbed nearly 4.5%. The telecom group confirmed its 2026 revenue guidance after reporting solid second-quarter results..
Sandoz Group and Schindler Ps gained 1.5% and 1.15%, respectively. Lonza Group, Swiss Life Holding, Lindt & Spruengli, VAT Group, Swiss Re and Novartis gained 0.5%-1%.
Staffing company Adecco shed 3.25% after posting disappointing gross margin and cash flow from operations in its second-quarter results.
In economic news, Switzerland's unemployment rate increased slightly in July after falling in the previous month, the State Secretariat for Economic Affairs, or SECO, said.
The unadjusted unemployment rate rose to 3% in July from 2.9% in June. In the corresponding month last year, the jobless rate was 2.7%.
The youth unemployment rate for those aged 15-24 rose to 2.8% from 2.7% in June.
Data showed that the seasonally adjusted unemployment was 3.1% in July, the same as in the previous month.
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