Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland stock market ended notably lower on Tuesday after staying weak right through the day's session, in line with the trend seen in most of the markets across Europe.
The benchmark SMI ended with a loss of 149.74 points or 1.2% at 12,378.87, off the session's low of 12,337.05.
Roche Holding tumbled 2.8% and Givaudan ended 2.75% down. Credit Suisse ended lower by about 2%.
Novartis ended 1.3% down on reports the drugmaker will cut thousands of jobs worldwide as it combines its pharma and oncology businesses in a reorganisation.
Swiss Re, Nestle, ABB, UBS Group and Lonza Group shed 0.7 to 1.1%. SGS and Alcon declined 0.55% and 0.4%, respectively.
Partners Group moved up 1.9%. Richemont advanced 1.35% and Logitech gained 1%. Sika gained 0.56%.
In the Mid Price Index, SIG Combibloc plunged more than 5.5%. Bachem Holding drifted down 3.2% and Lindt & Spruengli lost nearly 3%. Zur Rose ended lower by 2.45%, while Lindt & Spruengli, Tecan Group, Julius Baer and Barry Callebaut lost 1.3 to 2%.
AMS gained 1.8%, Kuehne & Nagel climbed 1.6% and Ems Chemie Holding moved up 1.53%. VAT Group and Georg Fischer posted modest gains.
