Swiss Market Ends Weak

(RTTNews) - The Switzerland market ended on a weak note on Friday after languishing in negative territory throughout the day's trading session. Profit taking, concerns about valuations in the tech sector and uncertainty about Iran peace deal weighed on the market.

The benchmark SMI ended down by 59.25 points or 0.42% at 14,172.71, after scaling a low of 14,03846 and a high of 14,211.74 intraday.

Logitech International ended down 3.83%. ABB closed 2.5% down, while UBS Group, Lindt & Spruengli, Sandoz Group, VAT Group and Kuehne + Nagel finished lower by 1.5%-2%.

Holcim both ended lower by 1%. Holcim has closed its Xella acquisition. With the acquisition, combined with modular wall systems and an AI platform, Holcim expects lower on-site labor, improved operations and reduced logistics costs.

Alcon ended nearly 1% down. Julius Baer, Lonza Group, Straumann Holding, Sonova and Schindler Ps ended modestly lower.

Swiss Re, Partners Group, Swiss Life Holding, SGS and Geberit climbed 0.5%-0.85%.