BRUSSELS (dpa-AFX) - Swiss stocks swung between gains and losses on Tuesday as investors reacted to earnings updates and other corporate news and remained largely selective with regard to their moves.
The benchmark SMI, which moved along the flat line till about mid-morning and then again around mid-afternoon, eventually settled with a gain of 43.90 points or 0.31% at 14,298.26.
VAT Group, up more than 5%, was the top gainer in the SMI index. Sandoz Group climbed nearly 2.5% and Logitech International moved up 2.25%.
ABB gained a little over 2%. Novartis ended higher by nearly 2% after Q2 core operating profit topped forecasts. Core operating income of Novartis increased slightly to $5.94 billion in the second-quarter.
Helvetia Baloise Holding climbed 1.7%, while UBS Group, Galderma Group and Kuehne + Nagel gained 1%-1.3%. Roche, Richemont and Sika posted modest gains.
Shares of elevator maker Schindler Ps shed nearly 5.5% after second-quarter sales came in below expectations.
Julius Baer drifted down nearly 4% despite profits at the bank more than doubling during the first half of the year. Net profit increased to CHF 672.2 million or CHF 3.27 per share in the first-half, from CHF 295.3 million or CHF 1.44 per share a year ago.
Swiss Re shed 2.8%, Sonova, Lindt & Spruengli, Nestle and Alcon lost 1.6%-2.4%. Givaudan dropped by about 1.05%.
Data from the Federal Customs Administration showed Switzerland's foreign trade surplus increased in the second quarter as exports grew faster than imports.
The trade balance rose to CHF 13.9 billion in the second quarter from CHF 10.8 billion in the first quarter. In the same period last year, the surplus was CHF 15.8 billion. In nominal terms, exports recovered sharply by 8.8%, and imports were 4.9% higher.
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