FX.co ★ Swiss Market Ends Slightly Weak After Choppy Ride

On Wednesday, the Swiss stock market experienced an initial upswing but slid into negative territory for most of the day before closing with a slight loss, despite a minor recovery in the final hour of trading.

The leading index, the Swiss Market Index (SMI), closed with a decline of 16.23 points or 0.13%, settling at 12,147.10. Throughout the trading session, it reached a low of 12,107.05 and a high of 12,218.38.

Shares of Kuehne + Nagel, Straumann Holding, Logitech International, ABB, Adecco, Sika, and Partners Group saw declines ranging from 1.25% to 1.7%.

Meanwhile, the stocks of VAT Group, Schindler Ps, UBS Group, Sonova, Julius Baer, Swiss Re, Richemont, Holcim, and Lindt & Sprüngli registered losses between 0.6% and 1.1%.

In contrast, Roche Holding posted a gain of 1.84% after reporting third-quarter group sales of 15.14 billion Swiss francs, surpassing last year's 14.27 billion francs. The company retained its full-year 2024 outlook, anticipating a mid-single-digit percentage increase in group sales and a high-single-digit rise in core earnings per share (EPS) at constant exchange rates.

Additionally, Swatch Group achieved a gain of 1.32%, while SGS and Swisscom rose by 0.62% and 0.45%, respectively.