Swiss Market Ends Weak
(RTTNews) - The Switzerland stock market ended on a weak note on Thursday after languishing in negative territory right through the day's session.
Despite data showing a bigger-than-expected drop in Swiss consumer price inflation, worries about rising interest rates and slowing economic growth rendered the mood bearish.
The benchmark SMI ended with a loss of 95.64 points or 0.89% at 10,710.59. The index touched a high of 10,741.52 and a low of 10,633.38 in the session.
Geberit ended 7.48% down. Alcon, Givaudan, Lonza Group and Sika ended lower by 3 to 4%.
Sonova drifted down 2.8%, while Logitech, Partners Group, Richemont and Swisscom lost 1.4 to 2.2%.
Holcim climbed 1.8%. Zurich Insurance Group ended modestly higher, while UBS Group and Novartis edged up marginally.
In the Swiss Mid Price Index, Zur Rose tanked 16.6%. Temenos Group ended 4.51% down, while VAT Group, Belimo Holding and Straumann Holding ended lower by about 3.5%.
Tecan Group, Kuehne & Nagel, Georg Fischer, SGS and Swatch Group also declined sharply.
Data from the Federal Statistical Office showed Switzerland's consumer price inflation eased more-than-expected in October to reach its lowest level in five months.
Consumer prices rose 3% year-on-year in October, slower than the 3.3% increase in September. Economists had expected inflation to drop fractionally to 3.2%.
Further, this was the lowest inflation rate since May, though well above the Swiss National Bank's 0-2% target range.
Australian Market Swings To Modest Gains In Mid-market
Asian Markets Mixed Amid Caution Trades
Sensex, Nifty Seen Tad Higher At Open As IIP Growth Recovers
Thai Stock Market Tipped To Open In The Green
Japanese Market Notably Lower
Additional Support Predicted For Indonesia Shares
Australian Market Slightly Lower
