The Swiss stock market underwent changes as the day progressed, eventually closing on a low note on Tuesday. The stocks fluctuated between gains and losses up until the penultimate hour. However, the last few minutes saw a slight intensification in sales, leading to a dip in valuations.
The primary Index (SMI) closed at a loss, particularly, down 41.10 points or 0.36%, standing at 11,506.04. This was a considerable decrease, almost 20 points lower than the session's low of 11,486.67.
Specifically, Swiss Re and Lonza Group suffered losses of 2.44% and 2.29% each. Other losses were seen in Holcim, which ended down 1.64%, Alcon, which closed 1.42% lower, and UBS Group, which ended with a 1.28% loss. Reports from Bloomberg News suggest UBS is considering acquiring its China platform wholly by swapping stakes with a Beijing government investment fund.
Companies such as Zurich Insurance Group, Richemont, Geberit, Kuehne & Nagel, and Logitech International also experienced losses ranging between 0.6% and 1%.
Conversely, Roche Holding saw a climb of about 1%. Other companies such as Swisscom, Nestle, and Sonova reported modest gains.
In terms of the Mid Price index, Avolta, PSP Swiss Property, Adecco, Clariant, Georg Fischer, Belimo Holding, Helvetia, and Temenos Group incurred losses ranging between 0.8% and 1.7%.
Meyer Burger Tech, however, posted a gain of around 5.3%. Other companies such as ams OSRAM AG, BKW, and Straumann Holding also saw profits of 1 to 1.5%.
