Swiss Market Ends Weak On Growth Worries

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Stocktwits
Swiss Market Ends Weak On Growth Worries

(RTTNews) - Swiss stocks fell on Monday amid concerns about slowing growth and possibility of further monetary tightening by central banks.

The benchmark SMI ended with a loss of 107.11 points or 0.96% at 11,090.61.

Lonza Group plunged 14.7% on concerns about the group's medium-term earnings prospects after the company announced that its chief executive, Pierre-Alain Ruffieux, will leave by mutual agreement at the end of the month.

Sonova ended 2.4% down. Alcon, Swiss Life Holding, Sika, Richemont, Roche Holding, Partners Group and Geberit lost 1 to 1.75%. Givaudan ended nearly 1% down.

ABB and Kuehne & Nagel both ended lower by 0.75%. Nestle, Logitech and Swisscom posted marginal gains.

In the Mid Price Index, Meyer Burger Tech and Bachem Holding lost 4.6% and 4.2%, respectively. AMS ended 2.7% down, and Temenos Group closed lower by 2.3%.

Dufry, Julius Baer, Straumann Holding, Swatch Group, Baloise Holding and Flughafen Zurich also ended notably lower.

Barry Callebaut and Belimo Holding posted moderate gains.

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