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Swiss Market Ends Modestly Lower

RTTNews | 1052 days ago

Swiss Market Ends Modestly Lower

(RTTNews) - The Switzerland stock market ended modestly lower on Friday after a choppy session, as worries about slowing growth and rising interest rates rendered the mood a bit bearish.

The benchmark SMI ended with a loss of 38.62 points or 0.35% at 11,096.12, after moving between 11,075.97 and 11,178.03.

Lonza Group tumbled 5.78%. Sika drifted down by about 4% and Logitech ended 3.3% down.

Credit Suisse and Geberit lost about 1.9% and 1.7%, respectively. UBS Group ended nearly 1% down. Roche Holding, ABB and Swisscom also closed weak.

Partners Group gained 1.53% and Nestle advanced 1.06%. SGS, Swiss Life Holding and Zurich Insurance Group posted moderate gains.

In the Mid Price Index, Schindler Holding ended 4.4% down. The Swiss elevator and escalator manufacturer cut its 2022 revenue guidance, citing China market contraction and COVID-related restrictions.

Schindler Ps shed nearly 4%. Zur Rose, SIG Combibloc, Ems Chemie Holdings and Clariant ended lower by 1.3 to 2%.

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