Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland stock market ended notably lower on Friday due to sustained selling at several counters.
Worries about slowing growth and rising interest rates, and escalating tensions between Russia and Ukraine hurt the market.
The benchmark SMI ended with a loss of 127.95 points or 1.18% at 10,729.40, the day's low. The index shed about 17% in 2022.
All the components of the SMI and the Mid Price Index ended in negative territory.
Credit Suisse, Swiss Re, Sika, Lonza Group, Partners Group, ABB, Novartis, Richemont and Zurich Insurance Group lost 1.3 to 2%.
Roche Holding, Swiss Life Holding, UBS Group, Nestle and Sonova also ended notably lower.
In the Mid Price Index, Zur Rose drifted down 3.62%. Tecan Group ended lower by 2.2%, while Flughafen Zurich, VAT Group, Bachem Holding, Adecco, Georg Fischer, Roche Holding, Swatch Group and Ems Chemie Holding lost 1.3 to 1.6%.
In economic news, Switzerland's economic outlook is set to improve somewhat at the beginning of 2023, results of a key survey by KOF Swiss Economic Institue showed.
The economic barometer rose to a three-month high of 92.2 points in December from 89.5 in September, which was revised from 89.2, the KOF Swiss Economic Institute said. Economists had forecast a score of 90.5.
The KOF barometer, which is a leading indicator for turning points in the Swiss economy, improved for the first time in six months.
CAC 40 Drifts Lower In Lackluster Trade
Sensex Jumps 746 Points As Focus Shifts To Trump-Putin Talks; Nifty Ends At 24,585
DAX Modestly Lower In Cautious Trade; Defense Stocks Drift Lower
UK Job Placements Decline Sharply On Weaker Confidence & Budget Pressures
European Shares Mostly Lower As Defense Stocks Fall Ahead Of Trump-Putin Talks
Asian Shares Edge Up In Thin Holiday Trade
European Shares Set To Open Higher With Economic Data And Geopolitics In Focus
