The Switzerland stock market ended slightly up on Tuesday after a choppy session as investors appeared quite reluctant to make significant moves amid worries about slowing growth and looming interest rate hikes.
The benchmark SMI ended with a gain of 5.12 points or 0.04% at 11,534.18. The index, which climbed to 11,547.54 around mid morning, dropped to a low of 11,493.48 around mid afternoon before recovering to close slightly higher.
Swisscom drifted down 1.44%. Nestle, Sika, SGS and Roche Holding ended lower by 0.7 to 1%.
Swiss Re, Credit Suisse, Alcon, Lonza Group and Richemont gained 1 to 2%. Holcim and Zurich Insurance Group both moved up nearly 1%. UBS Group, Partners Group, Swiss Life Holding and ABB also closed higher.
Zur Rose, down 4.2%, was the most prominent loser in the Swiss Mid Price Index. Ems Chemie Holding ended lower by 3.1%, while Swatch Group, Temenos Group and Kuehne & Nagel drifted down 1 to 1.3%.
Clariant rallied more than 3%. Julius Baer climbed 2.2%, while BB Biotech, Sonova, Tecan Group and Georg Fischer gained 1 to 1.5%.
Data from the Swiss National Bank showed foreign exchange reserves in Switzerland decreased to CHF 925,430 Million in May from CHF 926,050 Million in April of 2022.
Swiss Market Ends Slightly Up After Choppy Session
2022-06-07 17:05:59
