After a flat start and a subsequent marginal uptick Wednesday morning, the Switzerland market slipped and languished in negative territory right through the day’s session as investors awaited the Federal Reserve’s monetary policy announcement.
The benchmark SMI ended with a loss of 60.48 points or 0.5% at 11,982.30, nearly 40 points off the day’s low of 11,943.70.
Sonova ended down 2.29%. Givaudan, Alcon, Richemont and Sika closed lower by 1.5 to 1.8%.
Zurich Insurance Group, Logitech International, Kuehne + Nagel, Lonza Group, Nestle, Geberit, Swiss Life Holding and Lindt & Spruengli ended down 0.6 to 1.2%.
Sandoz Group, Roche GS and Roche Holding ended higher by 0.87%, 0.83% and 0.42%, respectively.
The U.S. central bank is widely expected to lower interest rates, but there continues to be some debate about the size of the rate cut.
CME Group’s FedWatch Tool is currently indicating a 61% chance of a half-point rate cut and a 39% chance of a quarter-point rate cut.
Swiss Market Ends Moderately Lower
2024-09-18 17:41:16
