Swiss Market Ends On Weak Note
(RTTNews) - The Switzerland stock market ended notably lower on Tuesday as worries about inflation and interest rates continued to weigh on sentiment.
The benchmark SMI, which dropped to 10,766.87, ended with a loss of 75.01 points or 0.69% at 10,814.02.
Lonza Group shares plunged more than 16%. The Swiss supplier for pharmaceutical and nutrition companies has warned on a hit to 2024 earnings due to lost revenue from an agreement with Moderna Inc.
Sika tumbed 5.5%. Kuehne & Nagel and Geberit both ended lower by about 2%. Alcon, Partners Group and Sonova lost 1.5%, 1.35% and 1.05%, respectively.
Swiss Re climbed 1.25%. Zurich Insurance Group, UBS Group and Swiss Life Holding posted modest gains.
In the Mid Price index, Meyer Burger Tech, BKW, Georg Fischer, Galenica Sante, Tecan Group and Barry Callebaut lost 1.2 to 2.4%.
Dufry, VAT Group, Helvetia and Temenos Group gained 1.5 to 1.8%.
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