The Switzerland stock market opened moderately lower Friday morning and spent the entire session in negative territory as worries about inflation and prospects of aggressive policy tightening by the U.S. Federal Reserve rendered the mood cautious.
Investors largely stayed on the sidelines, looking for fresh direction.
The benchmark SMI ended with a loss of 81.19 points or 0.66% at 12,231.97. The index touched a low of 12,186.25 and a high of 12,291.65 in the session.
Sika ended 2.8% down, Lonza Group declined 2.35% and Roche Holding shed nearly 2%. Partners Group, Geberit, ABB, Alcon and Logitech closed lower by 1.4 to 1.6%.
Givaudan, Richemont, UBS Group, Holcim and Novartis also closed weak, while Zurich Insurance Group, Nestle and Swisscom gained 1.26%, 1.07% and 0.84%, respectively.
In the Swiss Mid Price Index, Straumann Holding and VAT Group shed 4.2% and 4%, respectively. AMS, Tecan Group, Dufry and Schindler Holding ended lower by 2.9% to 3.1%.
Schindler Holding, Schindler Ps, Kuehne & Nagel, Georg Fischer and OC Oerlikon Corp also declined sharply.
Data from the Federal Statistical Office showed Swiss consumer price inflation increased in January, rising 1.6%, following a 1.5% increase each in December and November. Economists had forecast inflation to remain unchanged at 1.5%.
On a monthly basis, consumer prices grew 0.2% in January, after a 0.1% fall in the previous month.
The core CPI increased 0.8% annually in January and declined 0.2% from a month ago.
Market Analysis
Swiss Market Ends On Weak Note On Inflation Worries
2022-02-11 18:26:34
