Swiss Market Ends Notably Lower
(RTTNews) - The Switzerland market closed notably lower on Wednesday, after languishing in negative territory right through the day's trading session, as investors weighed global economic outlook in the wake of the latest data on Eurozone and U.K. inflation, and awaited the Federal Reserve's monetary policy announcement.
The benchmark SMI, which moved in a very tight range, closed with a loss of 101.61 points or 0.87% at 11,638.91, slightly off the session's low. The index touched a high of 11,707.13.
Givaudan and Adecco closed down 2.46% and 2.29%, respectively. Swiss Re ended lower by 1.78%, while Nestle, Schindler Ps, Sika, UBS Group, SIG Group and Roche Holding lost 1 to 1.5%.
Geberit, Swisscom, Novartis, Zurich Insurance Group, Julius Baer and Swiss Life Holding also closed weak.
ABB closed 0.7% down. The company said it has entered into an agreement to purchase Gamesa Electric's power electronics business in Spain from Siemens Energy's ENR Siemens Gamesa to boost its renewable power conversion portfolio.
VAT Group climbed 1.85%. SGS gained a little over 1%. Alcon, Partners Group, Swatch Group and Holcim posted modest gains.
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