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Swiss Market Ends Moderately Lower
(RTTNews) - After a flat start and a subsequent uptick, the Switzerland stock market slipped into the red Thursday morning, and stayed weak right through the day's session to eventually close on a negative note.
Worries about growth and imminent interest rate hikes weighed on sentiment.
The benchmark SMI ended with a loss of 70.95 points or 0.65% at 10,774.64.
Sika ended more than 2% down. Partners Group drifted down 1.55%, while Givaudan, Richemont, Credit Suisse, Logitech, ABB, Geberit and Roche Holding ended lower by 1 to 1.3%.
Swisscom climbed about 0.8%. Zurich Insurance Group edged up marginally, while Lonza Group and Swiss Re closed slightly weak.
In the Mid Price Index, VAT Group lost 4.3%. Zur Rose ended nearly 4% down. Bachem Holding shed about 3% and Belimo Holding drifted down 2.4%.
Georg Fischer and Temenos Group both lost nearly 2%. AMS, SIG Combibloc and Tecan Group also ended notably lower.
Helvetia, Baloise Holding and Galenica Sante gained 1.2%. PSP Swiss Property and Swiss Prime Site advanced 0.84% and 0.69%, respectively.
According to a report from the Swiss National Bank, Switzerland recorded a current account surplus of CHF 24.1 billion in the third quarter of 2022, widening from CHF 21.8 billion in the corresponding period of the previous year.
Swiss Market Ends Notably Lower
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