Swiss Market Settles On Weak Note

(RTTNews) - The Switzerland market, which languished in negative territory on Tuesday save for a few minute around mid morning, ended the day's session with a modest loss, as investors refrained from making big moves, choosing to wait for the Federal Reserve's monetary policy announcement on Wednesday.

The Fed is widely expected to announce a 25 basis point rate cut. The bank's accompanying statement and Fed Chair Jerome Powell's remarks are eyed for clues about future interest rate moves.

The benchmak SMI ended the day at 12,931.16, down 50.26 points or 0.39% from Monday's close.

Amrize and SGS closed lower by 3.29% and 3.19%, respectively. Swiss Re ended 1.7% down, whie Lonza Group, Holcim, Richemont, VAT Group, Geberit and ABB lost 1 to 1.28%.

Roche's Genentech division reported promising results from phase 3 studies involving Lunsumio for lymphoma treatments. The stock closed lower by about 0.7%.

Schindler Ps closed nearly 1% down. Roche Holding, Sika, Swisscom, Nestle and Sonova lost 0.4 to 0.7%.

Julius Baer climbed 1.78%. Zurich Insurance gained nearly 1.5% and Kuehne + Nagel gained about 1.1%. Galderma Group, Swiss Life Holding, Logitech International, Swatch Group and Givaudan posted moderate gains.