By Steffen Gosenheimer
ZURICH (Dow Jones)–The Swiss stock market performed weakly on Tuesday and was by far the worst performer in Europe. Logitech shares, which fell by almost 9 percent, played a significant role in this. The trigger was that the manufacturer of computer accessories had to accept a decline in sales for the ninth quarter in a row. The fact that Logitech now increased its outlook did not matter, nor did the fact that profits rose in the quarter under review. It was also said in the trade that they were hoping for a larger increase.
The SMI lost 1.1 percent to 11,149 points. Of the 20 SMI values, there were 16 price losers and 4 winners. 19.59 (Monday: 18.85) million shares were traded.
Alcon (-2.7%), Partners Group (-2.2%) and Sonova (-2.2%) also recorded significant losses in the leading SMI index. The heavyweights Nestle (-1.6%), Novartis (-1.0%) and Roche (-1.6%) also slowed down.
In the second row, Swatch also saw a steep decline of 4.6 percent. The watch manufacturer earned more last year thanks to higher sales and wants to let shareholders participate in this in the form of a higher dividend. However, the market expected more here too, it was said. The analysts at Deutsche Bank criticized the 6.3 percent increase in inventories.
Sika defied the downward trend with an increase of 1.2 percent. They were supported by an upgrade to “Buy” by UBS. Geberit – downgraded to “neutral” – held up comparatively well with a loss of 0.3 percent.
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DJG/gos/ros
(END) Dow Jones Newswires
January 23, 2024 11:52 ET (16:52 GMT)
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