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Swiss Market Ends On Weak Note; Credit Suisse Tumbles 8%
(RTTNews) - Despite opening on a positive note, the Switzerland stock market ended notably lower on Friday as worries about a potential banking crisis continued to hurt sentiment, prompting investors to lighten commitments.
The benchmark SMI ended with a loss of 105.55 points or 0.98% at 10,613.55. The index, which advanced to 10,794.33 at the start, dropped to a low of 10,566.90 before staging a modest recovery.
Credit Suisse, which rallied sharply on Thursday, rebounding after suffering a severe setback a session earlier, turned weak again today and ended with a big loss of 8%. According to a report in Reuters, at least four major banks, including Societe Generale SA and Deutsche Bank AG , have put restrictions on their trades involving Credit Suisse Group AG or its securities.
Swiss Life Holding ended 3.4% down, Partners Group drifted down 3%, Swiss Re lost nearly 2.5%, and Richemont shed 2.27%.
Zurich Insurance Group, Alcon, Holcim, Givaudan, ABB, UBS Group and Geberit lost 1.1 to 1.7%.
Only Sonova (up 0.57%) and Roche Holding (up 0.17%), were the gainers in the SMI index.
In the Swiss Mid Price Index, Zur Rose ended 5.28% down. Swatch Group ended lower by 4.23%, while Julius Baer and Temenos Group both lost about 3.1%.
Flughafen Zurich, Adecco, Helvetia, Baloise Holding, Georg Fischer, Bachem Holding and Swiss Prime Site lost 1 to 2.5%.
AMS rallied nearly 4%. SIG Combibloc and VAT Group gained 1.33% and 1.29%, respectively.
Japanese Market Significantly Lower
Indonesia Bourse May Test Resistance At 7,000 Points
Oversold Hang Seng Nonetheless Called Higher Again
Australian Market Slightly Lower
China Bourse May Add To Its Winnings On Thursday
Taiwan Shares Expected To Open In The Green
Rebound Anticipated For Singapore Shares
