On Tuesday, the Swiss market started the day weak and continued to struggle in negative territory until well past midday. However, it managed to recover and ultimately finished the session with a slight increase.
The Swiss Market Index (SMI), which had dipped to 11,887.46 during early trading, rebounded to a high of 12,043.61 as the day progressed and closed at 12,010.99, marking a modest rise of 2.29 points, or 0.02%.
SGS experienced an upward movement of approximately 1.5%. Both Givaudan and Roche Holding saw their shares increase by around 1.3%. Kuehne + Nagel, Swisscom, ABB, Swiss Life Holding, and Holcim reported gains ranging from 0.6% to 1%. Holcim announced its intention to acquire OX Engineered Products, a US-based provider of insulation systems, thereby broadening its product offerings to North American clients.
Geberit, Lonza Group, Straumann Holding, Zurich Insurance, and Swiss Re posted slight gains.
Conversely, Swatch Group saw a significant decline of nearly 5.5%. SIG Group and Richemont fell by 3.27% and 2.58%, respectively. Julius Baer, UBS Group, Adecco, and Schindler Ps experienced decreases ranging from 0.8% to 1.1%. Sika, Logitech International, Sandoz Group, and Lindt & Sprüngli closed the day with declines of 0.3% to 0.6%.