The Switzerland market ended on a weak note on Monday, tracking weakness in markets across Europe, amid lingering concerns about global economic slowdown, and caution ahead of some crucial economic data.
On the Swiss economic front, data on retail sales, GDP, report on manufacturing activity, and the KOF Leading Indicators readings are due this week.
The benchmark SMI ended with a loss of 58.46 points or 0.54% at 10,821.06, the session’s low. The index once again moved in a very narrow range.
Lonza Group ended 1.63% down. UBS Group and Partners Group drifted down 1.29% and 1.18%, respectively. Sika and Novartis both ended nearly 1% down.
Geberit, Roche Holding and ABB shed about 0.75%. Richemont, Nestle and Holcim ended modestly lower.
Sonova climbed about 1.3%. Kuehne & Nagel, Swiss Re and Givaudan posted modest gains.
In the Mid Price index, SIG Combibloc ended 2.87% down, and Julius Baer ended lower by 2.29% after the wealth manager said it would review its private debt business.
Clariant, Baloise Holding, ams OSRAM, Swatch Group, Helvetia, Avolta, Meyer Burger Tech and Schindler Holding lost 1 to 1.7%.
Galenica Sante, Barry Callebaut, Flughafen Zurich, SGS and Swiss Prime Site ended on a positive note.
Market Analysis
Swiss Market Ends Moderately Lower
2023-11-27 17:49:49
