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Swiss Market Ends Notably Lower
(RTTNews) - Swiss stocks turned in a weak performance on Wednesday, losing ground gradually after opening marginally down, as uncertainty about U.S. government's trade policies rendered the mood cautious.
The benchmark SMI ended down 138.04 points or 1.12% at 12,186.74, slightly off the session's low of 12,179.61.
Adecco and Richemont closed down 2.41% and 2.38%, respectively. Sonova, Straumann Holdings, Alcon and Swiss Re ended lower by 1.8 to 2%.
Swiss Life Holding, Holcim, Julius Baer, Nestle, Givaudan, Kuehne + Nagel, ABB, Swatch Group, Sika, Lonza Group, Logitech International, Novartis and Schindler Ps closed down 1 to 1.6%.
Geberit, the lone gainer in the SMI index, ended 0.33% up.
In economic news, the UBS & CFA Society's report said the Swiss investors' sentiment index increased by 29.6 points to -22 in May 2025 from -51.6 in the previous month. Meanwhile, the current conditions index turned positive, rising to 1.7 in May from -6.3 in the preceding month.
On the trade front, the Swiss Federal Council adopted a draft negotiating mandate on trade and economic issues with the US. The aim is to find a solution to the US customs dispute. The talks will cover tariff as well non-tariff issues.
On the trade front, Switzerland's Federal Council adopted a draft mandate to negotiate with the US on trade and economic issues following its recently imposed tariffs on Swiss exports. The draft mandate will now be consulted with the Swiss parliamentary foreign affairs committees and cantons.
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