The Switzerland stock market spent the entire session on Wednesday in the negative territory as worries about rising inflation and higher interest rates hurt sentiment.
However, the loss posted by the market in the session was just marginal as stock staged a fairly strong recovery from the day’s lows.
The benchmark SMI ended down by 17.61 points or 0.15% at 11,569.39, well off the day’s low of 11,381.74.
Richemont declined 2%. ABB, Logitech, Swisscom, UBS Group, Holcim and Credit Suisse ended lower by 1 to 1.5%.
Alcon ended nearly 1% down. SGS, Swiss Life Holding, Novartis and Swiss Re lost 0.5 to 0.7%.
Partners Group, Sika and Givaudan gained 1.1 to 1.3%, while Roche Holding moved up 0.88%.
Among the stocks in the Mid Price Index, Dufry, AMS, OC Oerlikon Corp, Temenos Group, Clariant, Swatch Group, BB Biotech, VAT Group, Georg Fischer and Kuehne & Nagel lost 1.7 to 3.2%.
Ferrexpo, a Swiss iron ore company with assets in Ukraine, slumped more than 4%. The company reported that its third-quarter total iron ore pellet production increased 2 percent year-on-year to 2.6 million tons.
Cembra Money Bank moved up nearly 1.5%, while Ems Chemie Holding, Galenica Sante and Lindt & Spruengli ended modestly higher.
Market Analysis
Swiss Market Recovers After Sharp Setback, Ends Just Marginally Down
2021-10-06 17:46:34
