After staying positive till a couple of hours past noon on Wednesday, Swiss stocks turned slightly weak and spent the rest of the session in negative territory.
The benchmark SMI, which advanced to 11,498.95 about an hour after the opening bell, ended the day’s session with a loss of 26.07 points or 0.23% at 11,414.38.
Sonova ended down 3.5%. Nestle ended lower by 1.74%, while Geberit, Swisscom and Logitech International lost 1.25 to 1.4%.
Sika ended 1.1% down. Givaudan, Nvartis and Roche Holding recorded moderate losses.
Alcon climbed 5.3%. Kuehne & Nagel gained about 2.1%, while Zurich Insurance Group and Richemont both ended higher by about 1.15%. ABB and Swiss Re gained 0.4% and 0.76%, respectively.
In the Mid Price index, Meyer Burger Tech dropped more than 8%. SIG Combibloc ended down 3.8% and ams OSRAM AG closed down 3.1%.
Avolta, Tecan Group, PSP Swiss Property, Straumann Holding, Ems Chemie Holding and Clariant lost 1.5 to 2.1%. Galenica Sante, Sandoz and Swiss Prime Site also ended notably lower.
Lindt & Spruengli, Schindler Ps and Schindler Holding lost 1.3 to 1.7%.
A report from UBS & CFA Society showed the Swiss investors’ sentiment index surged by 29.7 points from the previous month to 10.2 in February 2024, marking the highest reading in nearly 2-1/2 years and pointing to renewed optimism around the Swiss economy due in part to a recovery in exports.
However, the current conditions index dropped to 2.5 from 5.6 in January.
Market Analysis
Swiss Market Ends On Weak Note
2024-02-28 17:57:26
