Swiss Market Ends Lower Again As Growth Worries Weigh
(RTTNews) - The Switzerland stock market ended on a weak note on Thursday, extending losses from the previous session, as rising worries about slowing global economic growth continued to weigh on sentiment.
The benchmark SMI, which dropped to a low of 10,755.46 in late afternoon trades, ended the session with a loss of 105.33 points or 0.97%.
The index had ended with a loss of 1.49% on Wednesday.
All the components of the SMI index ended in negative territory.
Givaudan and Credit Suisse shed 4.2% and 3.48%, respectively. UBS Group, Swiss Re, Sika, Partners Group and Zurich Insurance Group ended lower by 1.6 to 2.2%.
Swisscom, Geberit, Swiss Life Holding, Holcim and Alcon also ended notably lower.
Among Swiss Mid Price index stocks, Zur Rose, AMS, Temenos Group, Bachem Holding and Clariant ended lower by 3 to 4%.
BB Biotech, Barry Callebaut, Julius Baer, Helvetia and Swiss Prime Site shed 2 to 2.7%.
SIG Combibloc rallied 2.7%. Flughafen Zurich gained about 1%, while Straumann Holding and Galenica Sante ended higher by 0.68% and 0.59%, respectively.
On the economic front, data from the Federal Statistical Office showed producer price inflation in Switzerland decreased to 0.3% month-on-month in June from 0.9% in May.
Switzerland's producer and import prices increased 6.9% from a year earlier in June of 2022, unchanged from the previous months. Still, the figure was the highest level since September of 1981.
Australian Market Extends Early Gains In Mid-market
Asian Markets Trade Mixed
Indian Markets Closed For Independence Day
Lower Open Predicted For Thai Stock Market
Japanese Market Notably Higher
Indonesia Bourse Due For Consolidation On Friday
Australian Market Modestly Higher
