Swiss Market Ends Marginally Down
2024-10-12
2387
(fxcue news) - After a weak start and a subsequent long spell in negative territory, the Switzerland market briefly edged up into positive territory in the final hour of the session on Wednesday, but slipped and ended the day marginally down.
The benchmark SMI ended with a loss of 25.78 points or 0.21% at 12,193.07, after moving in a tight range between 12,161.05 and 12,223.11.
VAT Group dropped 4.28%, and Swatch Group closed down 2.75%. Alcon and Givaudan ended lower by 1.67% and 1.52%, respectively. Logitech International ended down 1.16%.
Lindt & Spruengli, Richemont, ABB, Schindler Ps and Roche Holding closed lower by 0.6 to 1%.
Holcim ended moderately lower. The Swiss building materials company is weighing a potential dual listing of its North American subsidiary in the US and Switzerland, according to Bloomberg News.
Tecan Group plunged 14.5% following a profit warning. The laboratory instruments company announced an anticipated 12% to 14% drop in full-year 2024 sales in local currencies, compared with its previous forecast of a flat to mid-single-digit percentage decline.
Adecco gained nearly 2%. Julius Baer and SGS climbed 1.78% and 1.46%, respectively. Straumann Holding gained 1.13% and UBS Group ended up 1.05%.
Swiss Life Holding gained nearly 1%. Swisscom ended with a gain of 0.62%, while Kuehne & Nagel gained 0.45%.
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