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%.
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