Swiss Market Ends On Firm Note

(RTTNews) - The Switzerland stock market shrugged off a mild mid morning setback ended on a firm note on Tuesday with several frontline counters attracting strong buying interest.

The benchmark SMI, which eased to 11,159.15 around mid morning, ended the session with a gain of 53.73 points or 0.48% at 11,231.41.

Logitech soared 12.3%. The company sid sales in the three months to June fell 16% to $974 million, higher than market forecasts for $926 million. Non GAAP operating profit of $109 million also beat expectations.

The company said it now expects first-half sales of $1.875 billion to $1.975 billion, up from the previous projection of $1.8 billion to $1.9 billion.

Kuehne & Nagel surged 3.75%. Lonza Group, Geberit and Sika gained 1.9 to 2.2%. Givaudan, Sonova, Holcim, Swiss Life Holding and UBS Group ended higher by 0.8 to 1.2%.

Swisscom ended 0.36% down. Roche Holding and Novartis ended slightly down.

In the Swiss Midcap Index, Adecco climbed about 3.5%. VAT Group and Meyer Burger Tech gained 2.8% and 2.4%, respectively.

Swatch Group, Clariant, Tecan Group, SGS, Bachem Holding, AMS, Julius Baer and Schindler Holding advanced 1 to 2%.

SIG Combibloc drifted down 3.47%. Dufry, Galenica Sante, Barry Callebaut and Flughafen Zurich posted modest losses.