Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland stock market ended notably lower on Thursday, tracking weak global cues amid rising concerns about a possible recession in the U.S.
The benchmark SMI ended with a loss of 107.65 points or 0.95% at 11,258.97, the day's low. The index, which spent not more than a few minutes in positive territory today, touched a high of 11,372.58, recovering from a weak start.
Credit Suisse tumbled nearly 6.5%. Partners Group lost about 4.8%, while UBS Group, Givaudan, ABB, Sika and Richemont ended lower by 2 to 2.5%.
Lonza Group, Geberit, Logitech and Sonova also ended notably lower.
In the Mid Price Index, AMS, VAT Group and Kuehne & Nagel lost 4.25 to 4.7%.
Bachem Holding, Temenos Group, Tecan Group, Schindler Holding, Swatch Group, Flughafen Zurich, Straumann Holding and Ems Chemie Holding lost 2.3 to 3.2%, while Belimo Holding rallied more than 2.5%.
On the economic front, Switzerland's producer and import prices increased 3.2% year-on-year in December, data from the Federal Statistical Office showed.
The producer price index climbed 2.6% annually in December, and import prices grew 4.4%. Compared to the previous month, producer and import prices declined 0.7% in December.
In 2022, the producer and import prices advanced 5.6% from 2.7% in 2021.
Euro Higher Against Majors
TSX Down Marginally In Lackluster Trade
Swiss Market Ends On Firm Note
European Stocks Close Mixed After Cautious Session
U.S. Business Inventories Rise In Line With Estimates In June
U.S. Consumer Sentiment Unexpectedly Deteriorates In August
U.S. Industrial Production Pulls Back Slightly In July
