Swiss Market Ends Lower Again
(RTTNews) - Despite a fairly positive mood across Europe, the Switzerland market ended weak on Tuesday, as investors remained a bit reluctant to pick up stocks ahead of policy decisions by the Federal Reserve and the Swiss National Bank.
The benchmark SMI ended down by 45.83 points or 0.39% at 11,577.80. The index touched a low of 11,536.27 and a high of 11,613.72 intraday.
On the economic front, data from the Federal Customs Administration showed Switzerland's foreign trade surplus dropped to CHF 2.2 billion in February, from CHF 2.7 billion a month earlier, as imports rose faster than exports.
In real terms, exports rose 0.2% over the month, reversing a 0.5% decline in January. Imports also rebounded 3.8% after falling 3.9% in the prior month.
Shipments of food products grew 3% over the month, while those of jewellery items showed a sharp decline of 13.5%. In nominal terms, both exports and imports increased by 0.1% and 2.9%, respectively.
According to the Federation of the Swiss Watch Industry, watch exports decreased 3.8% year-on-year in February.
Partners Group ended down 3.1%. Richemont and UBS Group closed lower by 1.55% and 1.32%, respectively. Nestle, ABB and Kuehne & Nagel lost 0.8 to 1%.
Logitech International climbed 1.61%. Swiss Re gained about 1.25%, while Lonza Group, Swiss Life Holding, Geberit, Holcim and Sonova gained 0.6 to 1%.
In the Mid Price Index, ams OSRAM AG tanked more than 9%. Swatch Group drifted down 2.8%. Adecco and Avolta ended lower by 2.35% and 2.3%, respectively.
Lindt & Spruengli dropped 1.6%, while Galenica Sante, Temenos Group, Straumann Holding, VAT Group and Sandoz lost 0.6 to 1%.
Meyer Burger Tech rallied 8%. Georg Fischer ended stronger by 2.6%, and Schindler Ps advanced 1.15%. Schindler Holding gained 0.8%. Ems Chemie Holding and Clariant posted modest gains.
