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The Switzerland market ended on a weak note on Monday as investors reacted to some corporate news, and largely chose to stay cautious ahead of the Federal Reserve’s monetary policy announcement.<\/p>\n
The benchmark SMI, which stayed weak right through the day’s session, settled with a loss of 52.50 points or o.45% at 11,623.63, around 30 points off an early low of 11,593.41.<\/p>\n
Logitech International tumbled nearly 7% after the company announced that its Chief Financial Officer Charles “Chuck” Boynton is leaving the company. Logitech announced that it will announce a successor later.<\/p>\n
Richemont ended down 2.57%. Sonova, Kuehne & Nagel, Swiss Life Holding, Alcon, Nestle and Roche Holding lost 0.5 to 1%. UBS Group, Geberit and Swisscom also ended weak.<\/p>\n
Givaudan climbed about 1.25%. Lonza Group ended higher by 0.84%, while Swiss Re and Partners Group gained 0.75% and 0.7%, respectively. Sika advanced nearly 0.5%.<\/p>\n
In the Mid Price Index, Meyer Burget Tech tanked 28%.<\/p>\n
Temenos Group lost 4.7% and Baloise Holding drifted down 2.05%. Barry Callebaut, BKW, VAT Group, Swiss Prime Site, Tecan Group, Swatch Group and Helvetia ended lower by 0.8 to 1.5%.<\/p>\n
Julius Baer ended down by about 0.7% after the lender said its sees annual growth in adjusted pre-tax profit in excess of 10% over 2023-2025. The company said it expects pre-tax margin of 28 to 31 basis points by 2025, and adjusted cost\/income ratio of below 64% by 2025.<\/p>\n
ams OSRAM AG ended stronger by 1.54%. Ems Chemie Holding gained about 1.1%, while Galenica Sante and SGS both gained a little over 0.5%. <\/p>\n<\/p>\n<\/div>\n