Swiss Stocks Plunge Again; SMI Loses 2.8%
(RTTNews) - The Switzerland market ended sharply lower on Monday as stocks across the board reeled under sustained selling pressure due to a sell-off in global markets amid concerns about a possible recession in the U.S., and on escalating conflict in the Middle East.
The benchmark SMI ended down 332.27 points or 2.8% at 11,543.25. The index dropped to a low of 11,419.90 around mid afternoon, before recovering some lost ground.
The SMI had shed 3.59% on Friday.
Sandoz Group tumbled 5.41%. Roche Holding ended nearly 5% down. Lindt & Spruengli, Swiss Re, Roche GS, Swiss Life Holding, Novartis, Holcim and Straumann Holding ended lower by 3 to 4.2%.
Alcon, Richemont, SGS, Givaudan, Zurich Insurance Group, Nestle, Partners Group, ABB, Sika, Lonza Group, Swisscom, Schindler Ps and Sonova lost 2 to 2.9%. SIG Group and Geberit ended nearly 2% down.
VAT Group, the lone gainer in the SMI index, ended 0.75% up.
European Shares Set To Follow Asian Peers Higher
NZ Dollar Slides Against Majors
Australian Dollar Falls Against Majors
Sensex, Nifty Modestly Higher In Early Trade
Asian Markets Mostly Higher
Australian Market Trims Early Gains In Mid-market
Sensex, Nifty Set For Muted Start
