The Switzerland stock market ended sharply lower on Thursday, in line with markets across the globe, as the Russian invasion of Ukraine triggered a massive sell-off in financial markets.
The benchmark SMI, which plunged to 11,48076 around mid afternoon, losing more than 460 points in the process, eventually ended the session with a loss of 305.13 points or 2.56% at 11,636.76.
Among SMI components, only Givaudan (up 1.2%) and Lonza Group (up 0.6%) closed on the positive side.
UBS Group plunged more than 8%. Richemont shed about 6.5% and Credit Suisse drifted down 4.75%. Holcim and Swiss Life Holding lost 4.4% and 4.1%, respectively.
Swiss RE, Sika, Nestle, Zurich Insurance Group and ABB lost 2.25 to 3.7%. Swisscom and Geberit also declined sharply.
Among the stocks in the Mid Price index, Clariant, Adecco, Temenos Group, AMS and Julius Baer shed 4.6 to 5.5%.
Swatch Group, OC Oerlikon Corp, Flughafen Zurich, Helvetia, Schindler Holding, Ems Chemie Holding, Galenica Sante, Dufry, Georg Fischer and Baloise Holding lost 2 to 4%.
Zur Rose rallied 3.7%. SIG Combibloc ended higher by 2.3%, while Kuehne & Nagel, Sonova and PSP Swiss Property closed with modest gains.
On the economic front, data released by the Swiss Federal Statistical Office showed non-farm payrolls in Switzerland increased by 5239 thousnd in December 2021.
Market Analysis
Swiss Market Ends Sharply Lower
2022-02-24 18:08:18
