Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland stock market recovered slightly after a weak start Wednesday morning, but faltered within the next few minutes and spent the rest of the day's session in the red, as worries about slowing growth and rising inflation rendered the mood bearish.
The benchmark SMI ended with a loss of 113.23 points or 1.07% at 10,477.69.
All the constituents of the SMI index ended in negative territory. Credit Suisse fell more than 4%. Logitech drifted down 2.4%, while Partners Group and Swisscom both shed nearly 2%.
Sika, UBS Group, Geberit, Swiss Re, Richemont and Roche Holding lost 1.4 to 1.77%. ABB, Lonza Group and Holcim also ended notably lower. Holcim said it has completed the acquisition of Izolbet, a Polish specialty building solutions provider.
Among the stocks in the Swiss Mid Price Index, Zur Rose plunged nearly 10%. Tecan Group shed 4.7%. Adecco and Kuehne & Nagel both lost about 3.9%.
Julius Baer, Flughafen Zuric, Swatch Group, Dufry, Belimo Holding, AMS and Georg Fischer also ended sharply lower.
Bachem Holding surged 2.2% and SIG Combibloc gained about 2.1%. Galenica Sante and Straumann Holding posted moderate gains.
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