FX.co ★ Swiss Market Ends Marginally Down

On Wednesday, the Swiss market saw a day of fluctuations, beginning weakly and spending the majority of the session in negative figures. In the final hour, it managed a brief rise into positive territory before ultimately closing slightly down.

The benchmark Swiss Market Index (SMI) ended the day with a slight loss, down 25.78 points or 0.21%, closing at 12,193.07. Throughout the session, it navigated a narrow range between 12,161.05 and 12,223.11.

Shares of VAT Group fell notably by 4.28%, while Swatch Group declined by 2.75%. Alcon and Givaudan saw decreases of 1.67% and 1.52%, respectively, and Logitech International closed with a 1.16% loss.

Other declines were seen in Lindt & Sprüngli, Richemont, ABB, Schindler Ps, and Roche Holding, whose losses ranged from 0.6% to 1%.

Holcim experienced a moderate decline amid reports from Bloomberg News about the company considering a dual listing of its North American subsidiary in both the US and Switzerland.

Tecan Group saw a significant drop of 14.5% after issuing a profit warning, anticipating a 12% to 14% decrease in full-year 2024 sales in local currencies, contrasting its earlier prediction of a flat to mid-single-digit reduction.

On the positive side, Adecco rose nearly 2%, with Julius Baer and SGS increasing by 1.78% and 1.46%, respectively. Straumann Holding gained 1.13%, and UBS Group saw an uplift of 1.05%.

Swiss Life Holding edged up by almost 1%, while Swisscom concluded with a 0.62% gain, and Kuehne & Nagel ended 0.45% higher.