Swiss Market Ends Weak
(RTTNews) - After a positive start and a subsequent retreat, the Switzerland stock market rallied higher Thursday morning, but slipped into the red around mid afternoon and finally ended the day's session on a weak note.
Weak earnings report from Credit Suisse weighed on the market.
The benchmark SMI, which climbed to 11,336.22 around noon, ended the session with a loss of 58.55 points or 0.52% at 11,217.73.
Credit Suisse tanked 14.73% as the bank posted its worst annual loss since 2008 and warned of more losses this year. The lender reported a pre-tax loss of more than 1.3 billion Swiss francs (about $1.4 billion) in the fourth quarter of last year, as its new managers vie to right the top-drawer Swiss bank that has faced a string of setbacks in recent years.
Sonova drifted down 3.52%. Zurich Insurance Group and Givaudan ended lower by 2.72% and 2.6%, respectively.
Lonza Group ended 1.43% down, and Nestle lost 1.25%. Roche Holding ended lower by 0.75%.
Swisscom rallied 3.4%. Richemont gained nearly 2%, and ABB ended 1.56% up. UBS Group, Geberit and Holcim gained 0.8 to 1%.
In the Mid Price Index, Zur Rose dropped 4.64%. Straumann Holdings and SIG Combibloc ended lower by 1.61% and 1.35%, respectively.
Kuehne & Nagel, Belimo Holding, Bachem Holding, Georg Fischer and Flughafen Zurich gained 1.8 to 3%. Clariant, PSP Swiss Property and Clariant also ended notably higher.
U.S. Producer Prices Rise Slightly More Than Expected In January
U.S. Weekly Jobless Claims Dip Slightly More Than Expected
UK Economy Unexpectedly Returns To Growth
Bay Street Likely To Open With Positive Bias
Eurozone Industrial Output Falls More Than Expected
Sensex, Nifty Give Up Early Gains
FTSE Drifts Lower Despite Fairly Decent Economic Data
