Swiss Market Ends Modestly Lower

(RTTNews) - The Switzerland stock market ended modestly lower on Thursday after languishing in negative territory right through the day's session.

The benchmark SMI ended down 33.52 points or 0.3% at 10,968.10, after moving in a very narrow band between 10,960.43 and 10,998.32.

Lonza Group ended down 1.85%. Sonova declined 1.1%, while Novartis, Nestle, UBS Group and Kuehne & Nagel shed 0.5 to 0.75%.

Sika gained nearly 1%. Logitech International, Zurich Insurance Group, Swisscom, Geberit and Partners Group lost gained 0.5 to 0.8%.

In the Swiss Mid Price Index, VAT Group ended down 2.37%. Meyer Burger Tech declined nearly 2%. Swatch Group, Avolta, SGS and Sandoz lost 1 to 1.5%.

ams OSRAM AG shares climbed 3.67%. Schindler Ps advanced nearly 2.5%, while Schindler Holding and Ems Chemie Holding gained 1.71% and 1.5%, respectively.

A report from the State Secretariat for Economic Affairs (SECO) showed Switzerland's unemployment rate increased slightly in November to the highest level in nine months, climbing to 2.1%, from 2% in October.

In the corresponding month last year, the jobless rate was 2%.

The youth unemployment rate, which is applied to the 15-24 age group, remained stable at 2.1%.

Data also showed that the seasonally adjusted jobless rate came in at 2.1% in November, the same as in the prior month.