Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Swiss Stocks: Evolva, Kardex, Nestle, SGS Are Active in Zurich

July 2 (Bloomberg) -- Switzerland’s benchmark Swiss Market Index declined 7.36, or 0.1 percent, to 5,974.3, extending this week’s drop to 4.8 percent.

The following were among the most active stocks in the Swiss market today. Symbols are in parentheses.

Evolva AG (EVE SW) jumped 16 percent to 2.13 Swiss francs after the drugmaker said it will receive an additional 3.5 million francs ($3.3 million) from two investors.

Kardex AG (KARN SW) fell 9.6 percent to 29.7 francs after the supplier of automated storage systems said first half-sales will be around 15 percent lower than last year. The company also sees a “negative” operating profit and a net loss.

Nestle SA (NESN VX) slid 1.7 percent to 50.35 francs, a fourth day of losses. Morgan Stanley reduced its rating on the world’s biggest food company to “equal weight” from “overweight,” saying “further earnings upgrades are unlikely and consensus now reflects many of the positive attributes investors have come to rely on.”

SGS SA (SGSN VX) gained 1.7 percent to 1,461 francs after CA Cheuvreux raised its price estimate on the world’s biggest goods inspector. The brokerage said the company’s first-half results are expected to “confirm improving momentum in key divisions.”

To contact the reporter on this story: Matthias Wabl in Zurich at mwabl@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.