The Switzerland stock market ended weak on Wednesday, bucking the positive trend seen across Europe.
Several markets in Europe closed on a firm note today, reacting to some positive economic data from the region, and on hopes the Federal Reserve will pause its interest rate increases.
The benchmark SMI, which advanced to 11,356.35 around mid morning, ended the day’s session with a loss of 48.97 points or 0.43% at 11,278.30.
Logitech tanked 12.5% after Citi downgraded the stock’s rating to neutral from buy following an announcement from the company that its President and CEO Bracken Darrell is departing.
Roche Holding declined 2.05% and Sonova ended 1.29% down. Givaudan, Richemont, Geberit and Novartis ended lower by 0.3 to 0.7%.
Kuehne & Nagel climbed 1.33%. Holcim, Swiss Life Holding and Swisscom gained 0.9 to 1%. Sika and Lonza Group ended higher by 0.78% and 0.67%, respectively.
In the Mid Price Index, Lindt & Spruengli, Adecco and Temenos Group drifted down 2 to 2.25%.
Galenica Sante and Dufry both ended lower by about 1.3%. Ems Chemie Holding, Barry Callebaut, AMS, SGS and Bachem Holding lost 0.68 to 1%.
Swiss Market Ends Weak
2023-06-14 17:39:53
