Swiss Market Ends Flat

(RTTNews) - The Switzerland stock market ended slightly down on Wednesday after a choppy session as investors stayed cautious and largely refrained from making significant moves.

The benchmark SMI, which moved between 12,448.44 and 12,570.06, ended at 12,525.69, netting a loss of 3.87 points or 0.03%.

Richemont climbed 5.15%. The luxury group said its revenue climbed 32% at constant currencies in the last quarter. The world's second-largest luxury group reported strong demand for jewelry and watches.

Sika climbed 2.15%, Partners Group and ABB both ended nearly 1.5% up, while Alcon and Lonza Group gained 1.18% and 1.11%, respectively.

In the Mid Price Index, Temenos Group declined 3.44%, AMS, Lindt & Spruengli Part and PSP Swiss Property shed 2.4 to 2.6%. Lindt & Spruengli N, Helvetia and Tecan Group slid 1.3 to 1.7%.

Adecco gained more than 3%. Swatch Group climbed 2.6%. Schindler Ps, Sonova, Straumann Holding, Clariant and Schindler Holding gained 1.1 to 1.65%.

Swiss Life Holding and Logitech shed 2.88% and 2.72%, respectively. Nestle, Holcim and Credit Suisse ended lower by 1.8%, 1.66% and 1.52%, respectively. SGS declined 1.22%.

In coronavirus news, the Swiss government has extended coronavirus quarantine and work-from-home rules until the end of February and plans to keep until the end of March other curbs on public life it tightened last month.

Switzerland reported 38,015 new cases on January 19 for the previous 24-hour period.