BRUSSELS (dpa-AFX) - After staying positive for about an hour, the Switzerland market turned weak Monday morning, and stayed in negative territory right till the end of the day's session.
Concerns about fresh tariffs by the Trump Administration and their impact on global economic growth weighed on sentiment.
The benchmark SMI closed down 75.16 points or 0.57% at 13,000.24, off the session's low of 12,972.52.
Nestle closed down 2.27%. Givaudan and Roche Holding lost 1.84% and 1.62%, respectively. Swatch Group, Novartis and Lindt & Spruengli lost 1 to 1.22%.
SGS, SIG Group, Geberit and Swisscom ended lower by 0.5 to 1%. Schindler Ps and Richemont edged down marginally.
Alcon climbed 2.3%. The company announced an agreement to purchase US-based Lensar, a medical device company that specializes in laser technology for cataract surgery, for up to $430 million. The deal is expected to complete in mid- to late 2025.
Partners Group, Logitech International, Swiss Re and UBS Group gained 1 to 1.75%.
Holcim, Straumann Holding, VAT Group, Sandoz Group, Swiss Life Holding, Sika and Adecco closed higher by 0.6 to 1%.
Data from Swiss National Bank showed Switzerland's current account surplus narrowed to CHF 9.8 billion in the fourth quarter of 2024 from CHF 13.8 billion in the corresponding period of the previous year.
Eurozone private sector expanded for the third straight month in March as manufacturing production increased for the first time in two years, joining services in growth territory, data from S&P Global showed.
The HCOB flash composite output index ticked up to 50.4 in March from 50.2 in February. The score has remained above the threshold 50.0 indicating expansion for the third successive month.
At 50.4, the flash services Purchasing Managers' Index dropped unexpectedly to a four-month low from 50.6 in February. The score was forecast to rise to 51.2.
The flash factory PMI hit a 26-month high of 48.7 from 47.6 in February. The score was above the expected level of 48.3.
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