The Switzerland stock market ended on a weak note on Thursday, in line with the largely negative trend across Europe, as worries about global economic slowdown and some none too encouraging earnings updates from U.S. companies rendered the mood a bit bearish.
The benchmark SMI, which edged up to 10,722.06 in early trades, ended the session at the day’s low at 10,643.07, losing 65.12 points or 0.61%.
Richemont and Alcon lost 1.83% and 1.77%, respectively. Givaudan ended lower by 1.41%, while Kuehne & Nagel, Sonova, Sika, Nestle and Geberit lost 0.8 to 1.1%.
UBS Group, Zurich Insurance Group and Roche Holding ended lower by about 0.5%.
Swisscom climbed 0.83%. Partners Group and Lonza Group ended higher by 0.63% and 0.57%, respectively. Swiss Life Holding and ABB posted modest gains.
Among the stocks in the Mid Price Index, Meyer Burger Tech dropped 6%. Baloise Holding, Swatch Group, Helvetia and Clariant drifted down 2 to 2.4%. Adecco, Belimo Holding and Ems Chemie Holding also ended notably lower.
Lindt & Spruengli, VAT Group and Barry Callebaut gained 1.1 to 1.4%.
Market Analysis
Swiss Market Ends Moderately Lower
2023-11-16 18:13:34
