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Swiss Market Ends Lower On Weak Global Cues

RTTNews | 695 days ago

Swiss Market Ends Lower On Weak Global Cues

(RTTNews) - The Switzerland market ended notably lower on Monday, in line with markets across Europe, as worries about the impact of monetary tightening on global growth, and caution ahead of the Federal Reserve Chairman Jerome Powell's congressional testimonies weighed on stocks.

The benchmark SMI, which stayed in negative territory right through the day's session, ended with a loss of 79.62 points or 0.7% at 11,306.64.

Geberit and Lonza Group both ended lower by about 3.3%. Sika drifted down 2.8%.

Sonova, Richemont, Roche Holding, Partners Group, Givaudan, Logitech and Kuehne & Nagel lost 1 to 1.8%.

UBS Group surged 1.4%. Novartis edged up slightly, while Nestle, Zurich Insurance Group and Swiss Life Holding declined marginally.

Among the stocks in the Mid Price Index, Tecan Group ended 5.79% down. Belimo Holding drifted down 4.48% and Dufry ended 4% down.

AMS, Bachem Holding, Lindt & Spruengli, Swatch Group, Georg Fischer, Meyer Burger Tech, Ems Chemie Holding and Clariant lost 2 to 3%.

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