ZRICH (Dow Jones)–Somewhat recovered from the previous day’s losses, the Swiss stock market ended trading on Tuesday. The most recent escalation of the Ukraine crisis had no further impact for the time being. Rather, investors wanted to wait and see what specific sanctions would be imposed on Russia, trade sources said. Trade with Russia is comparatively small, imports are almost exclusively limited to energy and other raw materials. “In this respect, the effect should not be overestimated, even if the rising oil and gas prices drive inflation rates up again,” said the dealer.
The SMI gained 0.6 percent to 11,959 points. In the 20 SMI stocks, there were 13 gains and six losers, with the Swiss Life share closing unchanged. 46.73 (previously: 37.32) million shares were traded.
No uniform pattern could be identified. Cyclical stocks such as ABB (+0.6%), Geberit (+0.8%) and Sika (+2.2%) were among the winners. However, Givaudan (+1.5%) and Swisscom (+0.3%), which are considered defensive, were also purchased.
Logitech, one of only two winners in the SMI on Monday, now gained another 0.4 percent. Index heavyweight Nestle, also wanted on Monday due to its defensive nature, held its ground.
Recovery attempts at Credit Suisse fizzled out, the stocks closed 0.3 percent lower. They lost a good 3 percent on Monday after data on the bank’s customers had been leaked to various media. Among them are some problematic customers such as autocrats and criminals. The bank “resolutely rejected” the allegations in a statement.
Meanwhile, news about individual companies was rare. Among small caps, PSP Swiss Properties gained 3.3 percent after the company published business figures for the past year and announced a higher dividend.
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(END) Dow Jones Newswires
February 22, 2022 11:43 ET (16:43 GMT)
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