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Swiss Market Ends Modestly Lower
(RTTNews) - The Switzerland stock market ended modestly lower on Monday after languishing in the red right through the day's session.
With the monetary policy meetings of the Federal Reserve and the European Central Bank, scheduled to take place this week, and the data on U.S. inflation due as well, the mood in the market was cautious.
The benchmark SMI, which moved in a tight band between 10,989.77 and 11,050.30, ended the session with a loss of 34.66 points or 0.31% at 11,033.64.
Credit Suisse ended 1.66% down. Swiss Re, Swiss Life Holding, UBS Group and Sonova lost 0.9 to 1.1%.
Holcim, Novartis, Sika and Roche Holding ended modestly lower.
Alcon climbed nearly 1.75% and Lonza Group surged 1.33%. Nestle and Partners Group posted modest gains.
In the Mid Price Index, Helvetia, Flughafen Zurich, Baloise Holding, SGS, AMS, Julius Baer and Adecco lost 1.1 to 1.7%.
Clariant ended lower by about 1.7%. The specialty chemicals company announced impairment charges of around CHF 225 million related to its Sunliquid plant in Podari, Romania, for the fiscal 2022.
Bachem Holding, Tecan Group and Belimo Holding gained 3 to 3.3%. Swiss Prime Site, VAT Group and PSP Swiss Property ended higher by 0.65 - 1%.
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