The Swiss market concluded Monday on a weak note, diverging from the generally positive trends across Europe, as investors largely opted to remain on the sidelines. This cautious approach followed the assimilation of Switzerland's non-farm payroll data, with attention shifting towards the forthcoming GDP report anticipated later in the week.
The Swiss Market Index (SMI) initially rose after a modestly lower start but slipped into the red by late morning, maintaining a downward trajectory until the session's close. Having peaked at 11,766.18 in the early trading hours, the index ultimately fell by 37.91 points, or 0.32%, to settle at 11,678.59.
Among notable performers, both Sonova and Novartis saw declines of nearly 1.9%. Holcim, Swiss Life Holding, Givaudan, Alcon, ABB, Kuehne + Nagel, and Roche Holding also experienced losses, ranging from 0.3% to 1.2%.
On the brighter side, Julius Baer posted a gain of 2.1%, with VAT Group close behind at an increase of 2.07%. Logitech International appreciated by 1.66%, while Adecco advanced approximately 1.4%.
Further gains were noted in Lonza Group, Swatch Group, Swiss Re, Straumann Holdings, Schindler Ps, and Lindt & Spruengli, each rising between 0.4% and 1%.
According to the Federal Statistical Office, Switzerland's non-farm payrolls moved up by 1.2% year-on-year, reaching a record high of 5.528 million in the third quarter of 2024, following a 1.3% rise in the preceding quarter.
