Swiss Market Ends On Weak Note After Choppy Session
2025-02-05
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(fxcue news) - The Switzerland market closed weak on Friday after a choppy session, as investors stayed a bit reluctant to make significant moves after recent upswing.
Despite spending much of the day's session in positive territory, the market closed modestly lower due to a few frontline stocks turning weak in the final minutes.
The benchmark SMI ended down 30.86 points or 0.24% at 12,593.34, the day's low.
SIG Group ended nearly 3% down. Julius Baer and Partners Group lost 2.56% and 2.26%, respectively. Geberit, Alcon, Lonza Group, Givaudan, VAT Group, Kuehne + Nagel, Adecco and Richemont lost 1 to 1.7%.
Ems-Chemie Holdings closed 2.5% down after the group reported a 5.4% year-over-year drop in 2024 net sales to 2.07 billion francs from 2.19 billion francs, impacted by weaker foreign currencies.
Swisscom gained about 2.35%. Holcim ended 1.21% up. UBS Group, SGS, Roche Holding and Swiss Re posted modest gains.
According to a report released by the State Secretariat for Economic Affairs, Switzerland's consumer confidence rose to -29 in January 2025, up from -41 in the same month a year.
Data from Swiss National Bank said the country's foreign currency reserves climbed to CHF 736.39 billion in January from CHF 730.87 billion in December 2024.
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