Swiss Market Ends Marginally Down After Lackluster Session
2024-12-14
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(fxcue news) - After swinging between gains and losses, Swiss stocks closed slightly down on Friday with a few counters seeing some strong selling in the final hour. Investors largely made stock specific moves, reacting to corporate news.
Disappointing economic data from the UK and Germany, and tariff hike threats by Donald Trump rendered the mood cautious in European markets.
The benchmark SMI ended down 21.42 points or 0.18% at 11,694.43, after moving between 11,669.29 and 11,736.28.
Lonza Group shares closed down 2.81%. Alcon, Geberit and VAT Group ended lower by 1.6 to 1.75%. Partners Group drifted down 1.56% and Sika closed 1.04% down.
Roche Holding, SIG Group, Sandoz Group, Givaudan, UBS Group, Adecco and ABB also closed weak.
Swiss Re climbed 4.5% after the reinsurer said it is targeting net income of $4.4 billion for 2025.
Swiss Life Holding and Zurich Insurance, both advanced nearly 1%. Kuehne + Nagel, Straumann Holding, Sonova and Richemont gained 0.5 to 0.8%.
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