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Swiss Market Ends Moderately Lower
(RTTNews) - The Switzerland market ended on a weak note on Thursday after staying well below the flat line right through the day's session, as U.S. President Donald Trump confirmed 25% tariffs on autos and auto components imported into America, effective next week.
Trump also threatened in a Truth Social post early this morning that he would impose far larger tariffs than currently planned "if the European Union works with Canada in order to do economic harm to the USA."
The Swiss benchmark SMI closed down 86.57 points or 0.67% at 12,867.23, the day's high. The index touched a low of 12,738.01 in early trades.
Schindler Ps and UBS Group lost 4.3% and 4.1%, respectively. Holcim ended lower by 3.05%, while Sika, Roche Holding, VAT Group and Logitech International ended down 2.5 to 3%.
Julius Baer, Partners Group, Sonova, Richemont, Straumann Holding, ABB and Swatch Group also closed notably lower.
Alcon climbed 5.2%. Novartis gained 1.1%, while Kuehne + Nagel, Sandoz Group, SGS, Geberit, Nestle, Adecco and Givaudan ended higher by 0.5 to 1%.
TSX Settles Lower As Trade Tensions Resurface
Crude Oil Prices Slip On Friday
Pound Drops As Trade Tensions Renew
Weighed Down By Tariff Uncertainty, Gold Slides
Swiss Market Ends Modestly Higher
Major European Markets Close Slightly Higher
Canadian Market Modestly Lower, Looks Headed For Another Weak Close
