Swiss stocks fell on Monday amid concerns about slowing growth and possibility of further monetary tightening by central banks.
The benchmark SMI ended with a loss of 107.11 points or 0.96% at 11,090.61.
Lonza Group plunged 14.7% on concerns about the group’s medium-term earnings prospects after the company announced that its chief executive, Pierre-Alain Ruffieux, will leave by mutual agreement at the end of the month.
Sonova ended 2.4% down. Alcon, Swiss Life Holding, Sika, Richemont, Roche Holding, Partners Group and Geberit lost 1 to 1.75%. Givaudan ended nearly 1% down.
ABB and Kuehne & Nagel both ended lower by 0.75%. Nestle, Logitech and Swisscom posted marginal gains.
In the Mid Price Index, Meyer Burger Tech and Bachem Holding lost 4.6% and 4.2%, respectively. AMS ended 2.7% down, and Temenos Group closed lower by 2.3%.
Dufry, Julius Baer, Straumann Holding, Swatch Group, Baloise Holding and Flughafen Zurich also ended notably lower.
Barry Callebaut and Belimo Holding posted moderate gains.
Market Analysis
Swiss Market Ends Weak On Growth Worries
2023-09-18 17:28:39
