Swiss Market Ends Weak After Cautious Session
2024-08-21
2643
(fxcue news) - The Switzerland market closed weak on Tuesday as stocks drifted lower after a slightly positive move in early trades. The mood was cautious with investors looking for direction ahead of some key economic data, including inflation reports from the U.S. this week.
The benchmark SMI ended down 57.63 points or 0.47% at 12,296.72. The index, which edged up to 12,373.27 early on in the session, touched a low of 12,287.34.
Partners Group and Schindler Ps ended down 2.32% and 2.3%, respectively. Richemont closed 1.82% down.
Roche Holdings ended down 1.1%. The pharmaceutical company secured the European Commission's approval for its PiaSky antibody treatment for patients with paroxysmal nocturnal hemoglobinuria, a rare and life-threatening blood disorder.
Roche GS, Logitech International, Holcim and Geberit ended lower by 1 to 1.1%.
Sonova, SIG Group, Lonza Group, Julius Baer, Swatch Group, Kuehne + Nagel, and Swiss Life Holding ended lower by 0.4 to 0.9%.
Flughafen Zuerich ended nearly 3% down, after reporting first-half results below estimates.
Straumann Holding climbed 1.5%. Sandoz Group ended 0.56% up, while Lindt & Spruengli,VAT Group, UBS Group and Alcon edged up marginally.
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