Swiss Market Ends Slightly Weak
(RTTNews) - The Switzerland stock market ended slightly weak on Wednesday despite seeing a good spell in positive territory around mid afternoon.
The mood was cautious with investors looking ahead to the Federal Reserve's monetary policy announcement due later in the day.
The benchmark SMI, which dropped to 10,763.41 around mid morning, climbed to 10,846.70 later on in the session, before dropping to settle at 10,782.28, down 10.30 points or 0.1%.
Credit Suisse and UBS Group shares tumbled by about 6% and 3.7%, respectively. These two stocks had moved up sharply in the previous session, recovering well after suffering sharp losses a session earlier.
Geberit, Sika and Novartis lost 0.9 to 1.1%. Roche Holding ended 0.67% down.
Sonova surged nearly 2%. Nestle gained about 1.6%, while ABB, Givaudan, Holcim, Lonza Group and Alcon gained 0.6 to 0.9%.
In the Mid Price Index, PSP Swiss Property drifted down more than 3%. Swiss Prime Site shed about 2.5%, while Tecan Group and Baloise Holding lost 1.77% and 1.6%, respectively. Julius Baer ended lower by about 1.1%.
AMS and Kuehne & Nagel rallied 2.5% and 2.3%, respectively. VAT Group, Straumann Holding, Barry Callebaut, Bachem Holding, Ems Chemie Holding and Lindt & Spruengli ended higher by 0.8 to 1.4%.
Data from Swiss National Bank showed Switzerland's current account surplus widened to CHF 14.7 billion in the fourth quarter of 2022 from CHF 9.1 billion in the same period of the previous year.
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