The Switzerland market ended weak on Wednesday, extending losses from the previous session, with investors continuing to take some profits after a long winning run.
Also, data showing a bigger than expected increase in U.K.’s consumer prices in the month of April raised concerns about the outlook for interest rates.
The benchmark SMI ended with a loss of 42.83 points or 0.36% at 11,958.67. The index touched a low of 11,929.56.
Swatch Group, Richemont and Swiss Life Holding lost 2 to 2.1%. Roche Holdings ended down by about 1.3%, while Novartis and ABB drifted lower by 0.78% and 0.72%, respectively.
Ems Chemie Holding ended down 2.35%. Avolta, Barry Callebaut, Meyer Burger Tech, Helvetia and Flughafen Zurich lost 0.5 to 1.7%.
Alcon rallied about 2.5%. SGS gained 2.3%, while VAT Group, Straumann Holding and SIG Group ended higher by nearly 1.4%. Holcim, Lindt & Spruengli, Schindler Ps and Sandoz Group also closed on firm note.
Market Analysis
Swiss Market Ends Lower For 2nd Straight Day
2024-05-22 17:15:43
