Swiss Market Ends Modestly Lower
(RTTNews) - The Switzerland stock market recovered after a sluggish start on Friday, but after staying positive till a little past mid afternoon, slipped into negative territory to eventually end the session modestly lower.
The mood was cautious amid concerns about the impact of interest rate hikes on global economic growth.
The benchmark SMI ended the session with a loss of 24.06 points or 0.23% at 10,451.31. The index touched a low of 10,424.81 and a high of 10,592.12 in the session.
ABB declined 2.5%. Richemont and Givaudan both ended nearly 2% down. SGS ended 1.4% lower, while Holcim and Zurich Insurance Group both ended lower by nearly 1%.
Credit Suisse, Lonza Group and Logitech gained 1.9 to 2.03%. Partners Group, Alcon and Geberit moved up 1.7%, 1.6% and 1.3%, respectively.
In the Mid Price Index, Swatch Group, Sonova, Ems Chemie Holding and Kuehne & Nagel lost 1.2 to 2%.
BB Biotech rallied 5.7%, Temenos Group gained 4.25% and Zur Rose advanced nearly 4%. AMS and Straumann Holding surged up 3.1% and 2.5%, respectively. Georg Fischer, Dufry, SIG Combibloc and Galenica Sante were among the other prominent gainers.
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