The Switzerland stock market ended on a weak note on Wednesday, in line with the trend seen across the globe, amid mounting worries about inflation and on speculation global central banks might soon consider tightening their monetary policies.
The benchmark SMI ended lower by 96.55 points or 0.87% at 11,045.20, after staying weak right through the day’s session. The index touched a low of 10,993.72 in the session.
ABB ended nearly 3% down. LafargeHolcim shed 2.5%, Swiss Re ended lower by 2.2% and Richemont shed 2%. Swiss Life Holding, Partners Group and SGS declined by 1.8%, 1.74% and 1.7%, respectively.
Alcon, Zurich Insurance Group, UBS Group, Novartis, Lonza Group and Credit Suisse also ended notably lower.
Among the stocks in the Mid Price index, Adecco ended 3.25% down. Baloise Holding shed about 3%, while OC Oerlikon Corp and Flughafen Zurich both ended lower by 2.5%.
Helvetia, Cembra Money Bank, Georg Fischer, Straumann Holding, Temenos Group, Kuehne & Nagel lost 1.4 to 1.9%.
Julius Baer shares shed about 1.3%. The stock moved higher in early trades, riding an announcement from the company was on track to deliver on financial targets. The wealth manager posted an 8% rise in assets under management for the first four months of 2021 to 470 billion Swiss francs ($523.9 billion).
Market Analysis
Swiss Market Closes Weak
2021-05-19 18:19:57
