Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland stock market ended notably lower on Thursday as worries about recession and rising interest rates rendered the mood bearish.
The benchmark SMI, which stayed in negative territory right through the day's trading session, ended with a loss of 93.77 points or 0.92% at 10,126.99. The index touched a low of 10,041.52 around noon.
Credit Suisse and Partners Group both ended lower by about 4.3%. Richemont ended 3.6% down, while Sika, Geberit, Logitech and Sonova lost 2.1 to 2.5%.
UBS Group, Holcim, Roche Holding, Alcon, Givaudan and Swisscom also ended notably lower.
Swiss Re climbed about 1.5%. Nestle gained 0.76%, while Novartis edged up marginally.
Among the stocks in the Mid Price Index, Zur Rose tanked 11.5%. AMS ended nearly 7% down. VAT Group, Temenos Group, Dufry, Straumann Holding and Julius Baer lost 4 to 4.8%.
Swiss Prime Site, Tecan Group and Galenica Sante gained 1.3 to 1.5%, while PSP Swiss Property advanced 0.52%.
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