Business

Swiss market ends with weak notes

Except for the first few minutes, the Swiss stock market on Tuesday remained weak, largely due to investors’ cautious moves in the absence of triggers.

Benchmark SMI ended at 11,942.74 with a loss of 25.34 points or 0.21%. The index, which rose to 11,975.05 in early trading, hit a low of 11,862.99 later that day.

Nestlé was down 1.77% and Roche Holding was down 1.65%. Swisscom and Lonza Group decreased by 0.66% and 0.17%, respectively.

Archon rose 3.65%. Holcim rose 1.87% and Swiss Re, Credit Suisse and ABB rose 1-1.3%. Both Swiss Life Holding and Zurich Insurance Group increased by nearly 1%.

Of the shares in the Swiss Mid-Price Index, SIG Combibloc fell 2.5% and Dufry, Barry Callebaut and VAT Group fell 1.2-1.3%.

Zur Rose, Straumann Holding, Kuehne & Nagel, Temenos Group, AMS, BB Biotech, Vifor Pharma, Baloise Holding and Flughafen Zurich increased by 1-2.7%.

Shares of Swiss biotechnology company Bachem Holding fell by more than 10%. The company announced a capital increase of CHF 584 million ($ 634 million) through the issuance of 750,000 new shares.

Swiss exports increased in the third quarter, up 1.5% from the previous quarter, following a 0.6% increase in the second quarter, according to data released by federal customs authorities. Imports in the third quarter increased 1.1%, the same as the previous quarter.

Nominally, exports increased 3.7% quarterly and imports increased 2.6% in the third quarter.

The trade surplus increased from CHF 11,393 million in the previous quarter to CHF 12,564 million in the third quarter. The trade surplus for the third quarter of 2020 was CHF 7,614 million.

Exports in September increased by 0.4% each month after staying unchanged in August. Imports in September fell 0.8% month-on-month after rising 1.8% last month.

According to the Swiss Watch Association, watch exports in September increased by 3.1% year-on-year.

Contact for comments and feedback: editorial@rttnews.com



Swiss market ends with weak notes

Source link Swiss market ends with weak notes

Back to top button