Swiss Market Ends Marginally Down
(RTTNews) - Save for a few minutes at the start and a brief while a few minutes before the closing bell, the Switzerland market remained in negative territory on Monday.
Worries about higher borrowing costs, likelihood of further hike in rates, and concerns about global economic slowdown weighed on the market.
The benchmark SMI ended with a loss of 11.27 points or 0.1% at 10,889.03.
Roche Holding declined 1.1%. ABB and Swiss Re ended lower by 0.76% and 0.71%, respectively. Swisscom, Novartis, Nestle and Sika posted modest losses.
Lonza Group and UBS Group both gained nearly 2%. Alcon climbed about 1.2% and Partners Group ended nearly 1% up. Geberit, Sonova and Givaudan posted modest gains.
In the Mid Price Index, Meyer Burger Tech tumbled 2.8%. VAT Group, Schindler Ps, Schindler Holding, Helvetia and AMA also ended notably lower.
Sandoz surged 5.63%. Dufry gained nearly 2%. Straumann Holding and Belimo Holding climbed 1.63% and 1.49%, respectively. Georg Fischer, Lindt & Spruengli, BKW, Flughafen Zurich and Temenos Group also ended higher.
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