Markets

Swiss Market Ends Marginally Up

(RTTNews) - The Switzerland stock market ended with a small gain after trading in positive territory right through the session.

In early trades, the benchmark SMI rose to 9,862.97, but fell off that level soon and then kept moving slightly above the flat line till the end of the session with stocks largely moving in a narrow range.

The index ended the session at 9,760.02, up 10.10 points, or 0.1%, from previous close.

On Friday, the index ended down 1.63 points, or 0.02%, at 9,749.92 after a lackluster session.

ABB gained more than 3%. Swedish engineering group Sandvik's Chief Executive Officer Bjorn Rosengren will step down next year and become the new CEO of ABB, Sandvik and ABB said in seperate statements.

Novartis, Zurich Insurance, Lonza Group, Swisscom and LafargeHolcim gained 0.3 to 0.8%.

Richemont shares declined by about 2.2%. Credit Suisse, UBS Group and Swatch Group shed 1.3 to 1.7%.

In the midcap space, AMS tumbled nearly 12%. On Sunday, AMS announced that it submitted a proposal to take over Germany's Osram for 38.55 euros per share, valuing the Siemens spinoff at 4.3 billion euros.

Dufry shed 4.4%. OC Oerlikon Corp ended lower by 2.1%. Temenos Group, Julius Baer and GAM Holding lost 1.4 to 1.5%.

Most of the markets across Europe ended notably lower on Monday on trade worries, and due to political uncertainty in Italy and the anti-government protests in Hong Kong.

Among the major indices, Germany's DAX ended down 0.12%, while the U.K.'s FTSE 100 and France's CAC 40 declined 0.37% and 0.33%, respectively. The pan European Stoxx 600 declined 0.31%.

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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