Swiss Market Ends Weak For 3rd Straight Day
(RTTNews) - The Switzerland market ended modestly lower on Thursday after a choppy ride amid a lack of positive triggers. The recent inflation data from the U.S. has raised concerns that the Fed will keep interest rates higher for a longer period, and today, the ECB has maintained in its interest rates.
The benchmark SMI ended with a loss of 29.47 points or 0.26% at 11,465.74, declining for a third straight day. The index touched a high of 11,537.57 and a low of 11,427.48 in the session.
UBS Group dropped about 2.5%. Zurich Insurance Group, Swiss Re and Richemont lost 1 to 1.25%. Swiss Life Holding ended nearly 1% down.
Givaudan ended down by 0.65% despite posting higher first-quarter sales. ABB, Novartis and Swisscom ended modeslty lower.
Sika climbed 1.13%. Roche Holding, Sonova and Lonza Group gained 0.75 to 1%. Geberit, Nestle, Partners Group and Logitech International posted modest gains.
In the Mid Price Index, Meyer Burger Tech ended more than 8% down. Flughafen Zurich tumbled 4.2%. Swatch Group, SGS, Tecan Group and Avolta closed lower by 1 to 1.5%.
Clariant and Sandoz gained 2.82% and 2.59%, respectively. BKW gained 1.5% and Temenos Group advanced 1.3%. Barry Callebaut ended 0.88% up.
Swiss Market Closes On Bright Note
European Stocks Close Higher On Bargain Hunting, Fairly Positive Economic Data
Consumer Staples, Materials Stocks Rise As TSX Hits New Record High
U.S. Job Openings Fall To Ten-Month Low In July
U.S. Factory Orders Slump Roughly In Line With Estimates In July
Eurozone Private Sector Growth At 1-Year High
Bay Street Likely To Open On Mixed Note
