Save for a few minutes around mid-morning, the Switzerland stock market stayed weak on Wednesday as worries about slowing growth amid rising interest rates weighed on sentiment, prompting investors to stay cautious.
The benchmark SMI ended with a loss of 29.02 points or 0.27% at 10,805.16. The index dropped to a low of 10,727.12 around mid afternoon.
Zurich Insurance Group, Swisscom and Swiss Life Holding shed about 1.4%. Nestle drifted down 1.1%.
UBS Group, Credit Suisse and Logitech also closed weak.
Holcim gained 1.1% and Geberit climbed nearly 1%. Alcon, Lonza Group, Richemont, Partners Group and Sika gained 0.4 to 0.6%.
In the Mid Price Index, Bachem Holding ended nearly 4% down. Dufry shed about 3%, while Straumann Holding, Temenos Group and BB Biotech lost 1.4 to 1.7%.
Clariant surged 2%, Cembra Money Bank advanced 1.4%, Kuehne & Nagel climbed 1.3% and Lindt & Spruengli gained 1.15%.
Data released by Swiss National Bank showed foreign exchange reserves in Switzerland increased to CHF 859.6 billion in August from CHF 849.4 billion in July.
Market Analysis
Swiss Market Ends On Weak Note After Cautious Session
2022-09-07 17:17:33
