Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland stock market ended notably lower on Tuesday after staying weak right through the day's session.
Worries about growth and further interest rate hikes rendered the mood bearish.
The benchmark SMI ended with a loss of 114.04 points or 1.06% at 10,659.19, the day's low.
Sika, Alcon and Partners Group lost 2 to 2.25%. Givaudan ended nearly 2% down.
Credit Suisse, Lonza Group, Richemont, Roche Holding, Geberit and Sonova lost 1 to 1.76%, while ABB, Holcim, Nestle and Logitech ended nearly 1% down.
Swisscom ended higher by about 0.6%. Swiss Re and Swiss Life Holding closed flat.
In the Mid Price index, Bachem Holding fell 5.1% and SIG Combibloc declined nearly 4%.
AMS, VAT Group, Flughafen Zurich, Kuehne & Nagel, Clariant, Temenos Group, Galenica Sante and Ems Chemie Holding lost 1.25 to 3%.
Zur Rose rallied nearly 3.5%. Tecan Group ended 0.5% up.
Data from the Federal Customs Administration showed the trade surplus in Switzerland slumped to CHF 0.5 billion in November of 2022, the smallest trade surplus since January 2018, from a downwardly revised CHF 2.9 billion in October.
Exports decreased by a real 2.8% monthly in November, following the 2.2% fall in the previous month. Imports also logged a negative growth of 0.6 percent over the month, after a 0.3% drop in October.
In nominal terms, exports plunged 9.2% from a month ago, while imports rebounded by 1.4%.
According to the Federation of the Swiss Watch Industry, watch exports grew 10.9% year-on-year to CHF 2.4 billion in November, which was the best-ever performance.
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