BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The Switzerland stock market ended modestly higher on Tuesday, even as most markets across Europe turned weak, and the Swiss government cut its 2019 growth forecast by a third.
Value buying at a few top counters after three successive days of losses pushed the market higher.
The benchmark SMI ended up 44.63 points, or 0.45%, at 10,013.82, after moving between 9,944.60 and 10,025.02.
On Monday, the SMI ended down 78.15 points, or 0.78%, at 9,969.19.
The Swiss government cut its 2019 growth forecast by a third on Tuesday, citing the escalating trade war between the U.S. and China, a stronger Swiss franc and the slowdown in Germany.
The growth forecast for this year was cut to 0.8% from 1.2% predicted in June. The GDP growth projection for next year was retained at 1.7%.
'Weaker development than previously assumed is anticipated for the global economy and uncertainty is high, which is weighing on the export economy and investment,' the SECO said.
Roche Holding gained about 2.3%. Lonza Group and Nestle gained 1.6% and 1.55%, respectively.
UBS Group, Credit Suisse, Swatch, Zurich Insurance, LafargeHolcim ended notably lower.
Among midcap shares, Partners Group gained nearly 2.5%. Doma Kaba Holding, Vifor Pharma, Barry Callebaut, Lindt & Sp, Temenos Group and Swiss Prime Site moved up 1 to 1.6%.
On the other hand, GAM Holding declined more than 4%, Dufry, Julius Baer, Ems Chemie, Clariant, Georg Fischer and OC Oerlikon gained lost 1 to 2.3%.
The pan European Stoxx 600 edged down 0.05%. The U.K.'s FTSE 100 and Germany's DAX ended little changed from previous close, while France's CAC 40 gained 0.24%.
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