Swiss Market Ends Marginally Up

(RTTNews) - The Switzerland market ended marginally up on Monday, giving up most of its gains in the final hour of the day's session, as the mood turned a bit cautious amid a lack of significant triggers.

The benchmark SMI, which briefly fell into negative territory around mid morning after a positive start, ended the day with a gain of 16.23 points or 0.14% at 11,395.81, nearly 70 points off the session's high of 11,464.31.

Richemont climbed 1.68%. Swiss Re gained 1.32%, while Geberit, Partners Group, Alcon and ABB gained 0.8 to 1%.

Sonova, Zurich Insurance Group, Kuehne & Nagel, Novartis, Swiss Life Holding and Holcim posted modest gains.

Logitech International dropped 6.37%. Nestle, Givaudan and UBS Group ended lower by 0.3 to 0.6%.

Temenos Group soared nearly 20%. The company said a "special committee" formed by its board found that accusations in a report by Hindenburg Research were incorrect and misleading.

Sandoz rallied 4.61%. VAT Group gained 1.8%. Schindler Ps, Straumann Holding, Schindler Holding, SIG Group and Georg Fischer advanced 1 to 1.3%. Baloise Holding, PSP Swiss Property and Swatch Group ended modestly higher.

Meyer Burger Tech tumbled more than 22%. Julius Baer dropped 4.81% and ams OSRAM AG ended 3.9% down. Barry Callebaut and SGS ended lower by 1.84% and 1.45%, respectively.