Swiss Market Slips On Monday
(RTTNews) - The Swiss stock market ticked lower again on Monday, continuing to be rangebound and alternating between positive and negative finishes through the last five trading days since the end of the two-day winning streak in which it had gathered more than 120 points or 1.2 percent.
Sentiment was weighed by caution ahead of mid-term elections in the United States and the latest U.S. consumer inflation report due this week.
The markets also shook off concerns of an economic slowdown despite the uncertainty of the outlook for interest rates.
For the day, the index slipped 37.38 points or 0.35 percent to finish at 10,750.39 after trading between 10,712.88 and 10,806.62.
Among the actives, Credit Suisse tumbled 2.77 percent, while Julius Bar Gruppe climbed 1.32 percent, Swiss Re slipped 1.12 percent, The Swath Group advanced 0.90 percent, Roche Holding skidded 0.72 percent, Novartis sank 0.70 percent, Sika added 0.49 percent, UBS Group gained 0.46 percent, Zurich Insurance collected 0.42 percent, Swiss Life fell 0.37 percent and Geberit perked 0.07 percent.
In economic news, Switzerland's unemployment rate held steady in October after falling in the previous month, the State Secretariat for Economic Affairs said on Monday.
The unadjusted unemployment rate came in at 1.9 percent in October, the same rate as in September and shy of expectations for 2.0 percent. In October 2021, the jobless rate was 2.5 percent.
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