Markets

SMI Ends On Weak Note

(RTTNews) - The Switzerland stock market ended modestly lower on Tuesday, tracking weakness in other major European markets amid uncertainty about the pace of economic recovery due to the spread of the delta variant of the coronavirus in several parts of the world.

The benchmark SMI ended with a loss of 28.54 points or 0.24% at 12,021.09 after moving between 11,940.80 and 12,043.38.

Swatch Group shed about 2.4% and Richemont lost 2.2%. Sika, Credit Suisse, Partners Group, Lonza Group and SGS ended lower by 0.4 to 0.7%.

Givaudan moved up 1.06% and Swisscom gained about 0.6%, while Nestle and Geberit edged up marginally.

In the Swiss Mid Price Index, Logitech shares plunged nearly 10% despite the company posting better-than-expected earnings. The stock was weighed down by a flattish sales growth forecast from the company, and a rating downgrade by Goldman Sachs.

Adecco declined more than 4%, while AMS, Cembra Money Bank and Julius Baer lost 2.65%, 2.2% and 2.1%, respectively.

Dufry and BB Biotech ended lower by 1.76% and 1.66%, respectively. OC Oerlikon Corp ended 1.1% down.

Lindt & Spruengli gained nearly 4%. PSP Swiss Property, Barry Callebaut, Clariant, SIG Combibloc, Schindler Ps and Swiss Prime Site ended higher by 0.7 to 1%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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