Swiss Market Ends Slightly Lower
(RTTNews) - Despite spending much of the day's trading session in positive territory, the Switzerland market ended marginally down on Monday as stocks drifted lower on selling pressure in late afternoon trades.
The mood was cautious with investors awaiting Swiss inflation data for April, retails report and data on manufacturing activity due this week.
The benchmark SMI, which moved in a tight range, ended with a loss of 11.96 points or 0.11% at 11,332.36. The index touched a high of 11,392.82 and a low of 11,332.36 in the session.
Sandoz Group gained 2.2%. Zurich Insurance gained 1%. The insurer reported an annual decline in its group Swiss solvency test ratio due to its 2023 dividend, a proposed share repurchase, debt redemption and certain acquisition deals.
Julius Baer, Swatch Group, Swiss Life Holding, ABB, Swiss Re and Kuehne & Nagel climbed 0.7 to 1%.
Geberit, SIG Group, Sonova, Straumann Holding, Partners Group and Swisscom posted modest gains.
Roche Holding gained after a European Medicines Agency committee recommended the approval of its multiple sclerosis drug Ocrevus' subcutaneous formulation. If authorized, Ocrevus is set to be the first and only twice-a-year injection for the autoimmune condition.
Lindt & Spruengli, VAT Group, SGS and Lonza Group lost 1 to 1.6%. Novartis, Nestle and Givaudan ended down 0.5 to 0.7%.
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