Swiss Market Ends Weak Again

(RTTNews) - The Switzerland market ended on a weak note on Thursday, extending recent losses, even as markets across Europe turned in a fine performance on strong earnings updates and fairly encouraging economic data.

The benchmark SMI, which edged higher at the start, retreated soon and stayed weak right till the end of the session to settle at 11,386.17, with a loss of 42.57 points or 0.37%.

Nestle dropped nearly 5% after the company's full-year organic sales growth fell slightly below expectations.

Sika ended 1.01% down, while Roche Holding and Swisscom ended lower by 0.87% and 0.5%, respectively.

Zurich Insurance Group climbed 2.64%. Alcon, Logitech International and Swiss Re gained 2.32%, 2.22% and 2.01%, respectively.

Richemont, Lonza Group, ABB and Sonova ended higher by 0.9 to 1.27%, while Partners Group, Novartis, Givaudan and UBS Group posted modest gains.

In the Mid Price Index, Meyer Burge Tech tanked 11%. Lindt & Spruengli and Baloise Holding ended lower by about 1.5% and 1.25%, respectively.

ams OSRAM AG rallied more than 4%. VAT Group gained nearly 4% and Temenos Group climbed 3.84%. Straumann Holding and Adecco gained 2.2% and 1.94%, respectively.

Tecan Group, SGS, Ems Chemie Holding and Helvetia also ended notably higher.

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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