Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland stock market ended notably lower on Friday, despite most of the markets across Europe closing on a firm note.
The benchmark SMI, which briefly emerged into positive territory around mid afternoon, tumbled thereafter to eventually close with a loss of 111.88 points or 1.02% at 10,874.90.
Novartis shed more than 3% and Roche Holding ended lower by 2.03%. Nestle ended 1.34% down, while Zurich Insurance Group, Alcon, Swisscom and Lonza Group lost 0.6 to 0.8%.
Swiss Re, Logitech and UBS Group gained 2 to 2.35%, and Partners Group climbed 1.83%. Sonova, Geberit, Swiss Life Holding and Kuehne & Nagel posted moderate gains.
In the Mid Price Index, Meyer Burger Tech ended nearly 3% down. SGS and Lindt & Spruengli ended lower by 1.35% and 1.2%, respectively.
DocMorris soared 10.5%. Clariant AG shares rallied 5% despite the specialty chemicals firm reporting weak preliminary sales in its second quarter and lowering its 2023 guidance.
AMS, Dufry, VAT Group, Adecco, Temenos Group, Julius Baer and Tecan Group gained 1.5 to 3%.
In economic news, Switzerland's unemployment rate held steady in June after falling slightly in the previous month, the State Secretariat for Economic Affairs, or SECO, said.
The unadjusted unemployment rate came in at 1.9% in June, the same as in May. Meanwhile, economists had expected the rate to fall to 1.8%. In the corresponding month last year, the jobless rate was 2%.
Data also showed that the seasonally adjusted jobless rate also remained stable at 2%.
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