Swiss Market Settles Slightly Down
(RTTNews) - The Switzerland market ended slightly down on Thursday, after languishing in the red almost right through the day's session, with investors reacting to corporate earnings updates, and a report showing signs of an improved outlook in the Swiss economy.
The benchmark SMI, which dropped to a low of 12,258.96 around later afternoon, ended the day's session at 12,309.63, down 4.47 points or 0.04%.
Kuehne + Nagel ended nearly 2% down. Sonova, Nestle and Lonza Group lost 1.2 to 1.6%. Swatch Group ended nearly 1% down.
Richemont, Schindler Ps, Sika, Givaudan and Holcim lost 0.5 to 0.77%.
Logitech International rallied nearly 5%. VAT Group and Sandoz Group both gained nearly 4.4%.
Straumann Holding and Swisscom ended higher by about 2.9% and 2.6%, respectively. Julius Baer, Swiss Re, ABB and Swiss Life Holding posted modest gains.
A measure signaling future turning points in the Swiss economy strengthened further in October to the highest level in eight months, the results of a survey by the KOF Swiss Economic Institute showed.
The economic barometer rose to 101.3 in October from 98.0 in September. Moreover, the indicator now climbs above its medium-term average of 100, indicating an improving outlook in the Swiss economy.
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