Swiss Market Snaps Long Winning Streak, Ends Modestly Lower

(RTTNews) - The Switzerland market ended weak on Tuesday, snapping a long winning streak, as investors made cautious moves ahead of a slew of economic data from Europe and the U.S.

The benchmark SMI, which spent almost the entire day's session in negative territory, ended with a loss of 36.49 points or 0.3% at 12,001.50.

Lonza Group, Sonova and Straumann Holding lost 4%, 3.4% and 2.4%, respectively. Swatch Group ended down by 1.75%.

Nestle ended down by about 1.4%. According to reports, Nestle will market a new, $5 line of frozen pizzas and protein-enriched pastas in the United States. The product is said to be designed specifically for people taking drugs such as Wegovy or Ozempic for weight loss.

Kuehne & Nagel, Roche Holdings, SIG Group, Richemont and Julius Baer lost 0.7 to 1.4%.

Swisscom ended lower by 0.76%. The company announced that it has secured an initial go-ahead from Italy's government for its planned acquisition of Vodafone Italia.

ABB climbed 2.21%. Logitech International ended nearly 2% up. VAT Group, SGS, Lindt & Spruengli, UBS Group, Novartis, Partners Group, Swiss Life Holding and Alcon gained 0.4 to 0.8%.

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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