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Swiss Market Ends Slightly Up
(RTTNews) - The Switzerland market failed to hold early gains and settled just marginally up on Tuesday, due to some brisk selling at a few frontline counters in the final hour of the day's session.
The mood remained fairly positive till well past noon as investors awaited a crucial vote on a spending plan in Germany. The bill won the necessary vote and now awaits the final nod from Bundesrat on Friday.
The benchmark SMI, which advanced to 13,117.35 around mid morning, ended the day with a gain of 3.99 points or 0.03% at 13,062.11, around 40 points off the session's low of 13,022.32.
Julius Baer gained 1.85% after the lender announced that it has secured regulatory approvals to open a dedicated branch in Milan, Italy, marking its entry into the Italian onshore market. Adecco climbed 3.28%, while Logitech International, Kuehne + Nagel, UBS Group, Straumann Holding, Alcon and Lonza Group closed higher by 0.7 to 0.9%.
ABB, Sandoz Group, VAT Group, Swiss Re, Schindler Ps, Swiss Life Holding and Nestle posted modest gains.
SGS, Sika, SIG Group, Roche Holding, Swisscom and Geberit lost 0.4 to 0.9%.
Investors also looked ahead to the monetary policy meeting of the Swiss National Bank later in the week.
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