Swiss shares close off lows in thin trade ahead of key earnings news - UPDATE |
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Wed, 17 Jan 2007 18:26
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(Updating with full report)ZURICH (AFX) - Share prices closed slightly higher in thin trade, overcoming earlier weakness and with the focus already on a raft of earnings news due tomorrow, dealers said.At the close the Swiss Market Index was 31.60 points higher at 9,104.60, and the Swiss Performance Index was up 25.87 points at 7,197.25.The euro rose against the Swiss franc to 1.6131 sfr, while the dollar slipped to 1.2469 sfr.Shares recovered from a weaker spell earlier in the afternoon, with investors shrugging off Wall Street's lacklustre start after worse-than-expected inflation data, a trader here said.Pharma heavyweight Novartis, as well as Logitech, Barry Callebaut, Geberit and Saurer are all due to release their fourth quarter and full-year results tomorrow.Novartis closed up 0.30 at 73.60 sfr, amid expectations of improved sales and profits, still benefiting from the strength of its cardiovascular and cancer segments.Among companies due to report results tomorrow, Logitech was down 1.15 sfr or 3.1 pct at 35.65, Barry Callebaut was up 2.50 at 649, Geberit added 22 at 2,039, and Saurer gained 0.40 to 132.40 sfr.Elsewhere in the pharmaceuticals sector, Roche gained 0.70 sfr to 235.40 sfr, while fellow heavyweight Nestle added 1 sfr to 438.25.Major gainers included Nobel Biocare up 8.50 sfr or 2.2 pct at 401, Baloise, up 2.1 pct or 1.80 sfr at 122, Synthes up 2.70 sfr at 163.50, and Swiss Life, up 4.15 sfr at 318.75.Notable underperfomers included Givaudan, down 23 sfr or 2 pct 1,120 sfr, as well as Syngenta down 1 sfr at 235.50 sfr.afx.zurich@afxnews.comjmt/tc/at/vlb/at/gpCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Swiss shares close lower in thin trade on profit-taking ahead of earnings news 