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Swiss Market Settles Moderately Lower
(RTTNews) - Save for a very brief while at the start, the Switzerland market languished in negative territory on Tuesday with investors largely staying cautious and making stock specific moves.
Though tariff worries eased a bit following U.S. President Donald Trump holding off tariffs on Canada and Mexico for 30 days, trade war concerns lingered due to the U.S. and China slapping duties on each other.
The benchmark SMI, which edged up to 12,557.62 at the start, settled with a loss of 71.28 points or 0.57% at 12,475.49.
UBS Group ended lower by 7.05% despite posting better-than-expected results for the final quarter of 2024. The bank, which reported a profit in its fourth quarter, compared to prior year's loss, raised its dividend, and announced up to $3 billion share buyback program.
Sonova and Swatch Group ended down 3.42% and 3.24%, respectively. VAT Group drifted lower by 1.56%.
Julius Baer, Lindt & Spruengli, Kuehne + Nagel and Swisscom lost 0.7 to 0.9%. Novartis and Nestle lost a little over 0.5%.
Lonza Group climbed nearly 1.5%. Logitech International gained 0.9%, while Zurich Insurance Group and ABB closed higher by about 0.7% and 0.65%, respectively.
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