Swiss Market Ends Marginally Down After Choppy Session
(RTTNews) - After moving along the flat line till about a couple of hours past noon on Friday, the Switzerland stock market climbed modestly higher, but retreated soon and ended the day's session marginally down.
Uncertainty about the outlook for U.S. interest rates, and lingering concerns about economic slowdown rendered the mood cautious.
The benchmark SMI ended down 19.93 points or 0.18% at 10,956.90. The index touched a low of 10,928.00 and a high of 11,008.85.
UBS Group ended lower by 1.46%. Swiss Life Holding, Lonza Group, Richemont and Partners Group lost 0.7 to 1%.
Roche Holdings, Sika, Geberit and Sonova posted modest losses.
Kuehne & Nagel and Nestle advanced 0.69% and 0.51%, respectively. ABB gained 0.34%, while Givaudan and Swiss Re edged up marginally.
In the Mid Price Index, Meyer Burger Tech tumbled 4.73%. AMS declined 2.33%, while Dufry, Flughafen Zurich, VAT Group and Temenos Group lost 0.8 to 1%.
Clariant, DocMorris and Belimo Holding gained 1.25 to 1.55%. Tecan Group, SIG Combibloc and SGS posted modest gains.
On the economic front, data from Swiss Federal Statistical Office showed Switzerland's non-farm payrolls went up 2.2% year-on-year to a record 5.432 million in the second quarter of 2023.
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