Swiss Market Ends Slightly Up

After opening weak and languishing in negative territory till well past noon on Tuesday, the Switzerland market moved above the flat line and eventually ended the day’s session slightly up.

The benchmark SMI, which dropped to 11,887.46 in early trades, climbed to 12,043.61 later on in the session before settling at 12,010.99 with a small gain of 2.29 points or 0.02%.

SGS gained about 1.5%. Givaudan and Roche Holding both ended higher by about 1.3%. Kuehne + Nagel, Swisscom, ABB, Swiss Life Holding and Holcim gained 0.6 to 1%. Holcim revealed plans to purchase US-based insulation systems provider OX Engineered Products, expanding its offering to customers in North America.

Geberit, Lonza Group, Strauamann Holding, Zurich Insurance and Swiss Re posted marginal gains.

Swatch Group dropped nearly 5.5%. SIG Group and Richemont ended lower by 3.27% and 2.58%, respectively. Julius Baer, UBS Group, Adecco and Schindler Ps lost 0.8 to 1.1%. Sika, Logitech International, Sandoz Group and Lindt & Spruengli settled lower by 0.3 to 0.6%.