Swiss market ends moderately lower

BRUSSELS (dpa-AFX) – The Swiss market ended weak on Monday after moving in a tight band throughout the session, while weak global markets and concerns over rising geopolitical tensions turned the mood bearish.

Investors were waiting for inflation figures from Switzerland and the eurozone.

The benchmark SMI, which moved within a range of just 55 points, ended down 65.18 points or 0.53% at 12,168.87, the session’s low.

Adecco ended almost 2% lower and Geberit lost about 1.7%. Julius Baer and Schindler Ps closed 1.47% and 1.35% lower, respectively.

SGS, Lindt & Spruengli, Novartis, ABB, Swiss Life Holding, Holcim, UBS Group, Lonza Group, Swiss Re, Richemont and Zurich Insurance Group lost 0.5 to 1%.

SIG Group made a progress of almost 2%. Givaudan, Logitech International and Swatch Group gained 0.6 to 0.7%. Sonova finished with a modest profit.

Economic news shows that a measure that indicates future turning points in the Swiss economy strengthened in September. This reflects a trend towards recovery in the economy, according to the results of a study by the KOF Swiss Economic Institute.

The economic barometer rose to 101.5 in September, compared to an upwardly revised 105.0 in August. Economists had predicted a score of 101.0.

In September, almost all indicator bundles for the economic sectors point to more favorable prospects than before, according to the KOF.

The increase in September was mainly driven by indicators for manufacturing and, to a lesser extent, those for financial and insurance services, construction and other services.

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