Swiss Market Ends Higher After Choppy Session

(RTTNews) - The Switzerland stock market ended modestly higher on Tuesday after a choppy ride, as investors largely stayed cautious and refrained from making significant moves.

Worries about the likely impact of the ongoing war in Ukraine, and rising inflation continued to weigh on the market.

The benchmark SMI, which moved in a tight range between 12,340.87 and 12,380.57, ended with a gain of 36.10 points or 0.29% at 12,376.97.

Givaudan rallied 2.1%. Richemont surged up 1.7% and Nestle gained about 1.4%. Lonza Group, Roche Holding, Partners Group, Zurich Insurance Group and Novartis posted modest gains.

UBS Group ended lower by about 4%. Holcim and Credit Suisse declined 2.3% and 2.2%, respectively. Geberit, Logitech and ABB also ended sharply lower.

Among the stocks in the Mid Price Index, Zur Rose climbed up 2.6% and BB Biotech gained 2.3%. Sonova, Lindt & Spruengli Part and Tecan Group gained 1.6 to 2%, while Lindt & Spruengli N and Barry Callebaut ended higher by 1.1% and 0.9%, respectively.

AMS plunged more than 8%. Adecco, Temenos Group, Julius Baer and Flughafen Zurich lost 3.2 to 3.7%, while Straumann Holding drifted down nearly 3%.

Schindler Ps, Dufry, Schindler Holding, Georg Fischer, Ems Chemie Holding and Kuehne & Nagel also declined sharply.