Swiss Market Ends Sharply Lower

(RTTNews) - The Switzerland market ended sharply lower on Tuesday, in line with markets across Europe, as persisting geopolitical tensions and uncertainty about interest rate trajectory weighed on sentiment.

The benchmark SMI, which stayed weak right through the day's session, ended with a loss of 199.14 points or 1.75% at 11,196.67, nearly 25 points off the day's low of 11,172.40.

All the components of the SMI ended in negative territory. Swiss Re, Partners Group, UBS Group, Alcon, Kuehne & Nagel and Logitech International lost 2 to 3.32%.

Zurich Insurance Group, ABB, Sonova, Novartis, Richemont, Swiss Life Holding, Roche Holding, Holcim, Geberit, Lonza Group and Swisscom ended down 1.3 to 1.8%.

In the Mid Price Index, Adecco tanked more than 11%. Temenos Group, which ended with a hefty gain on Monday, ended down 5.79%.

Straumann Holding, Avolta, Julius Baer, Tecan Group, Helvetia, Swatch Group, VAT Group and Belimo Holding lost 1.9 to 3%. Georg Fischer, Schindler Holding, SIG Group and Baloise Holding also ended notably lower.

Barry Callebaut climbed about 6.75%. Meyer Burger Tech gained 3.1%, and SGS advanced 1.2%.