After struggling for direction till noon on Wednesday, the Switzerland stock market moved higher and had a good spell in positive territory, but faltered in the final hour and eventually ended slightly down.
The benchmark SMI, which climbed to 10,832.19, ended the day’s session with a marginal loss of 7.18 points or 0.07% at 10,756.19.
Novartis announced that it has completed the spin-off of its generics and biosimilars business Sandoz through a dividend-in-kind distribution to holders of Novartis shares and American Depositary Receipts. Sandoz shares tanked about 17.5%% on debut. Novartis gained about 1.8%.
Geberit ended 1.7% down. Roche Holding and Kuehne & Nagel both ended nearly 1% down.
Partners Group gained 1.1%. Logitech ended nearly 1% up. Sika climbed 0.61%.
In the Mid Price Index, Belimo Holding, Adecco, BKW and Meyer Burger Tech lost 2.6 to 3.1%. Dufry ended 2.1% down.
Tecan Group, Clariant, Lindt & Spruengli, Ems Chemie Holding and Julius Baer also ended notably lower.
Swiss Market Ends Marginally Down
2023-10-04 17:26:02
