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Swiss Market Ends On Weak Note After Cautious Session

RTTNews | 1063 dagar sedan

Swiss Market Ends On Weak Note After Cautious Session

(RTTNews) - Save for a few minutes around mid-morning, the Switzerland stock market stayed weak on Wednesday as worries about slowing growth amid rising interest rates weighed on sentiment, prompting investors to stay cautious.

The benchmark SMI ended with a loss of 29.02 points or 0.27% at 10,805.16. The index dropped to a low of 10,727.12 around mid afternoon.

Zurich Insurance Group, Swisscom and Swiss Life Holding shed about 1.4%. Nestle drifted down 1.1%.

UBS Group, Credit Suisse and Logitech also closed weak.

Holcim gained 1.1% and Geberit climbed nearly 1%. Alcon, Lonza Group, Richemont, Partners Group and Sika gained 0.4 to 0.6%.

In the Mid Price Index, Bachem Holding ended nearly 4% down. Dufry shed about 3%, while Straumann Holding, Temenos Group and BB Biotech lost 1.4 to 1.7%.

Clariant surged 2%, Cembra Money Bank advanced 1.4%, Kuehne & Nagel climbed 1.3% and Lindt & Spruengli gained 1.15%.

Data released by Swiss National Bank showed foreign exchange reserves in Switzerland increased to CHF 859.6 billion in August from CHF 849.4 billion in July.

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RTTNews | 4h 46minuter sedan

Pound Rises As Traders Await BoE Monetary Policy Meeting

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CAC 40 Modestly Higher

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