{"id":45020,"date":"2024-03-19T17:38:23","date_gmt":"2024-03-19T17:38:23","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/03\/19\/swiss-market-ends-lower-again-8\/"},"modified":"2024-03-19T17:38:23","modified_gmt":"2024-03-19T17:38:23","slug":"swiss-market-ends-lower-again-8","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/03\/19\/swiss-market-ends-lower-again-8\/","title":{"rendered":"Swiss Market Ends Lower Again"},"content":{"rendered":"
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Despite a fairly positive mood across Europe, the Switzerland market ended weak on Tuesday, as investors remained a bit reluctant to pick up stocks ahead of policy decisions by the Federal Reserve and the Swiss National Bank.<\/p>\n

The benchmark SMI ended down by 45.83 points or 0.39% at 11,577.80. The index touched a low of 11,536.27 and a high of 11,613.72 intraday.<\/p>\n

On the economic front, data from the Federal Customs Administration showed Switzerland’s foreign trade surplus dropped to CHF 2.2 billion in February, from CHF 2.7 billion a month earlier, as imports rose faster than exports.<\/p>\n

In real terms, exports rose 0.2% over the month, reversing a 0.5% decline in January. Imports also rebounded 3.8% after falling 3.9% in the prior month.<\/p>\n

Shipments of food products grew 3% over the month, while those of jewellery items showed a sharp decline of 13.5%. In nominal terms, both exports and imports increased by 0.1% and 2.9%, respectively.<\/p>\n

According to the Federation of the Swiss Watch Industry, watch exports decreased 3.8% year-on-year in February.<\/p>\n

Partners Group ended down 3.1%. Richemont and UBS Group closed lower by 1.55% and 1.32%, respectively. Nestle, ABB and Kuehne & Nagel lost 0.8 to 1%.<\/p>\n

Logitech International climbed 1.61%. Swiss Re gained about 1.25%, while Lonza Group, Swiss Life Holding, Geberit, Holcim and Sonova gained 0.6 to 1%.<\/p>\n

In the Mid Price Index, ams OSRAM AG tanked more than 9%. Swatch Group drifted down 2.8%. Adecco and Avolta ended lower by 2.35% and 2.3%, respectively.<\/p>\n

Lindt & Spruengli dropped 1.6%, while Galenica Sante, Temenos Group, Straumann Holding, VAT Group and Sandoz lost 0.6 to 1%.<\/p>\n

Meyer Burger Tech rallied 8%. Georg Fischer ended stronger by 2.6%, and Schindler Ps advanced 1.15%. Schindler Holding gained 0.8%. Ems Chemie Holding and Clariant posted modest gains. <\/p>\n<\/p>\n<\/div>\n