Swiss Market Ends Flat

(RTTNews) - The Switzerland market ended flat on Monday after swinging between gains and losses in cautious trade.

The market recovered after a weak start, but after moving along the unchanged line till about mid afternoon, slipped again, before recovering lost ground to finally settle flat.

The benchmark S&P/TSX Composite Index, which moved in a tight range between 12,485.85 and 12,544.37, settled at 12,517.12, up 1.07 points or 0.01% from the previous close.

Richemont surged up 2.8%. Alcon gained 1.36% and SGS climbed 0.82%. Sika, Logitech and Credit Suisse closed with modest gains.

Partners Group and Geberit shed 1.37% and 1.29%, respectively. Lonza Group declined 0.71%, while Nestle and Swiss Re closed modestly lower.

In the Mid Price Index, AMS gained nearly 4.5% and Zur Rose climbed 2.5%. VAT Group, Temenos Group, Barry Callebaut, Straumann Holding, Dufry and Cembra Money Bank gained 0.8 to 1.1%.

Sonova declined nearly 6%. The company reported adjusted EBITA earningss of 406 million Swiss franc, beating expectations for a 386 million francs earnings. The group maintained its full-year targets, and still expects consolidated sales to increase by 24%-28% and adjusted EBITA to grow in the range of 34%-42%, but has warned of supply chain contrations.

OC Oerlikon Corp, Georg Fischer and Adecco ended lower by 1.47%, 1.25% and 1.19%, respectively.

According the Federal Office of Public Health, almost 4,000 new coronavirus infections were reported on November 12.