Swiss Market Ends Weak Again
(RTTNews) - After a weak start and a subsequent recovery Tuesday morning, the Switzerland stock market retreated and stayed weak to eventually end the session notably lower.
The benchmark SMI, which advanced to a high of 11,181.68 around mid morning, ended the session with a loss of 83.17 points or 0.75% at 11,064.08, the day's low.
Sika, Logitech and Sonova lost 2.6 to 2.7%. Credit Suisse, Lonza Group, Partners Group, Swiss Life Holding, UBS Group and Alcon ended lower by 1.5 to 2.3%.
Roche Holding, Geberit, Givaudan, Swisscom and Swiss Re lost 0.7 to 1.2%.
In the Mid Price Index, Bachem Holding tumbled nearly 9%. AMS drifted down 4.7%, while VAT Group, Zur Rose and Ems Chemie Holding lost 2.9 to 3.3%.
SIG Combibloc, Galenica Sante, Kuehne & Nagel, SGS and Baloise Holding shed 1.6 to 2.3%.
Dufry climbed 2.3%. Temenos Group and Georg Fischer both gained about 0.55%.
On the economic front, data released by the State Secretariat for Economic Affairs showed the Swiss unemployment rate edged down to a non-seasonally adjusted 2.1% in February 2023, from 2.2% in the previous month.
Meanwhile, the youth unemployment rate, which measures the number of job-seekers between 15 to 24 years old, decreased by 0.9% in February.
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