Swiss Market Ends Moderately Lower
2024-09-30
2278
(fxcue news) - The Switzerland market ended weak on Monday after moving in a tight band right through the day's session as weak global markets and concerns about rising geopolitical tensions rendered the mood bearish.
Investors awaited Swiss and Eurozone inflation data.
The benchmark SMI, which moved in a range of just 55 points, ended with a loss of 65.18 points or 0.53% at 12,168.87, the session's low.
Adecco ended nearly 2% down, and Geberit lost about 1.7%. Julius Baer and Schindler Ps closed down 1.47% and 1.35%, respectively.
SGS, Lindt & Spruengli, Novartis, ABB, Swiss Life Holding, Holcim, UBS Group, Lonza Group, Swiss Re, Richemont and Zurich Insurance Group lost 0.5 to 1%.
SIG Group advanced nearly 2%. Givaudan, Logitech International and Swatch Group gained 0.6 to 0.7%. Sonova ended with a modest gain.
In economic news, a measure signaling future turning points in the Swiss economy strengthened in September, reflecting a recovery tendency on path in the economy, the results of a survey by the KOF Swiss Economic Institute showed.
The economic barometer climbed 101.5 in September from an upwardly revised 105.0 in August. Economists had forecast a score of 101.0.
In September, almost all indicator bundles for the economic sectors point to a more favorable outlook than before, the KOF said.
The rise in September was primarily due to the indicators for the manufacturing industry and, to a lesser extent, those for the financial and insurance services, the construction industry, and other services.
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